Allianz Asset Management GmbH lowered its position in Old Republic International Co. (NYSE:ORI) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,380,639 shares of the insurance provider’s stock after selling 258,171 shares during the period. Allianz Asset Management GmbH owned about 0.79% of Old Republic International worth $51,065,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in ORI. Dubuque Bank & Trust Co. acquired a new stake in Old Republic International in the first quarter valued at about $103,000. BB&T Securities LLC acquired a new stake in Old Republic International in the first quarter valued at about $208,000. Jump Trading LLC acquired a new stake in Old Republic International in the fourth quarter valued at about $227,000. Bank of Hawaii acquired a new stake in Old Republic International in the first quarter valued at about $237,000. Finally, HighVista Strategies LLC acquired a new stake in Old Republic International in the first quarter valued at about $251,000. Hedge funds and other institutional investors own 74.25% of the company’s stock.
ORI stock opened at $20.33 on Wednesday. Old Republic International Co. has a 12-month low of $17.92 and a 12-month high of $22.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market cap of $6.00 billion, a PE ratio of 18.32 and a beta of 1.24.
Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, April 26th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). Old Republic International had a net margin of 7.34% and a return on equity of 6.80%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business posted $0.39 earnings per share. Old Republic International’s revenue was up 2.6% on a year-over-year basis. analysts forecast that Old Republic International Co. will post 1.7 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Tuesday, June 5th were given a dividend of $0.195 per share. The ex-dividend date was Monday, June 4th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 3.84%. Old Republic International’s payout ratio is 70.27%.
In other news, Director Spencer Leroy III sold 24,400 shares of the firm’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $21.35, for a total transaction of $520,940.00. Following the completion of the transaction, the director now directly owns 69,099 shares of the company’s stock, valued at approximately $1,475,263.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Spencer Leroy III sold 31,500 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $21.50, for a total transaction of $677,250.00. Following the transaction, the director now directly owns 91,599 shares of the company’s stock, valued at $1,969,378.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,900 shares of company stock valued at $2,555,790. Insiders own 1.90% of the company’s stock.
A number of equities research analysts recently commented on ORI shares. Zacks Investment Research downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. ValuEngine downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $24.00.
Old Republic International Profile
Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.
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