BlueCrest Capital Management Ltd cut its position in shares of Old Republic International Co. (NYSE:ORI) by 70.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,616 shares of the insurance provider’s stock after selling 126,870 shares during the period. BlueCrest Capital Management Ltd’s holdings in Old Republic International were worth $1,125,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Valeo Financial Advisors LLC purchased a new position in Old Republic International during the third quarter worth about $118,000. Bessemer Group Inc. purchased a new stake in shares of Old Republic International in the 4th quarter valued at approximately $145,000. DekaBank Deutsche Girozentrale raised its stake in shares of Old Republic International by 78.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,999 shares of the insurance provider’s stock valued at $155,000 after acquiring an additional 3,513 shares during the period. Narus Financial Partners LLC purchased a new stake in shares of Old Republic International in the 3rd quarter valued at approximately $206,000. Finally, Moors & Cabot Inc. purchased a new stake in shares of Old Republic International in the 3rd quarter valued at approximately $206,000. 73.51% of the stock is currently owned by institutional investors.
Shares of Old Republic International Co. (ORI) opened at $21.32 on Wednesday. The stock has a market cap of $5,747.88, a P/E ratio of 11.10 and a beta of 1.36. Old Republic International Co. has a 52 week low of $17.92 and a 52 week high of $22.34. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Monday, March 5th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 3.66%. This is an increase from Old Republic International’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, March 2nd. Old Republic International’s payout ratio is 40.63%.
ORI has been the topic of a number of research analyst reports. ValuEngine raised shares of Old Republic International from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research raised shares of Old Republic International from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Wednesday, January 24th. Finally, JMP Securities raised shares of Old Republic International from a “market perform” rating to an “outperform” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $24.00.
In related news, Director Glenn W. Reed purchased 5,000 shares of Old Republic International stock in a transaction dated Thursday, February 15th. The shares were acquired at an average cost of $20.43 per share, with a total value of $102,150.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.
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Old Republic International Company Profile
Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.
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