Bank of New York Mellon Corp decreased its stake in shares of Old Republic International Co. (NYSE:ORI) by 3.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,680,657 shares of the insurance provider’s stock after selling 144,580 shares during the quarter. Bank of New York Mellon Corp owned about 1.55% of Old Republic International worth $93,192,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. raised its position in Old Republic International by 535.2% in the second quarter. Itau Unibanco Holding S.A. now owns 7,470 shares of the insurance provider’s stock valued at $149,000 after purchasing an additional 6,294 shares during the period. Advisors Asset Management Inc. raised its position in Old Republic International by 767.5% in the second quarter. Advisors Asset Management Inc. now owns 25,783 shares of the insurance provider’s stock valued at $201,000 after purchasing an additional 22,811 shares during the period. Clinton Group Inc. purchased a new stake in Old Republic International in the second quarter valued at $221,000. Gideon Capital Advisors Inc. purchased a new stake in Old Republic International in the second quarter valued at $272,000. Finally, Sterling Capital Management LLC purchased a new stake in Old Republic International in the second quarter valued at $276,000. Hedge funds and other institutional investors own 71.99% of the company’s stock.
In other news, CFO Karl W. Mueller sold 9,879 shares of Old Republic International stock in a transaction on Monday, August 20th. The stock was sold at an average price of $22.00, for a total value of $217,338.00. Following the completion of the sale, the chief financial officer now directly owns 26,787 shares of the company’s stock, valued at $589,314. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.
NYSE:ORI opened at $22.27 on Friday. Old Republic International Co. has a 52 week low of $19.48 and a 52 week high of $23.05. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 20.06 and a beta of 1.06.
Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, October 25th. The insurance provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.12. Old Republic International had a return on equity of 10.18% and a net margin of 12.01%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.56 billion. On average, research analysts predict that Old Republic International Co. will post 1.85 EPS for the current fiscal year.
Separately, Zacks Investment Research downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th.
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Old Republic International Company 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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