GAM Holding AG lessened its position in Old Republic International Co. (NYSE:ORI) by 18.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,863 shares of the insurance provider’s stock after selling 11,136 shares during the quarter. GAM Holding AG’s holdings in Old Republic International were worth $1,071,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of ORI. BlackRock Inc. grew its stake in Old Republic International by 9.2% during the 3rd quarter. BlackRock Inc. now owns 30,341,553 shares of the insurance provider’s stock worth $679,042,000 after purchasing an additional 2,543,701 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Old Republic International by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,126,185 shares of the insurance provider’s stock worth $141,884,000 after purchasing an additional 130,669 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Old Republic International by 8.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,078,054 shares of the insurance provider’s stock worth $113,647,000 after purchasing an additional 397,397 shares in the last quarter. Alliancebernstein L.P. grew its stake in Old Republic International by 18.9% during the 3rd quarter. Alliancebernstein L.P. now owns 4,365,427 shares of the insurance provider’s stock worth $97,698,000 after purchasing an additional 694,148 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Old Republic International by 1.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,557,968 shares of the insurance provider’s stock worth $70,839,000 after purchasing an additional 46,615 shares in the last quarter. Hedge funds and other institutional investors own 72.93% of the company’s stock.
Separately, Zacks Investment Research cut Old Republic International from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th.
ORI opened at $21.55 on Friday. Old Republic International Co. has a 12 month low of $19.48 and a 12 month high of $23.05. The firm has a market cap of $6.69 billion, a P/E ratio of 12.55 and a beta of 1.07. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.18.
Old Republic International (NYSE:ORI) last released its earnings results on Thursday, October 25th. The insurance provider reported $0.56 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.56 billion. As a group, research analysts forecast that Old Republic International Co. will post 1.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, December 4th will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $0.78 annualized dividend and a yield of 3.62%. Old Republic International’s payout ratio is 70.27%.
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About Old Republic International
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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