Old Republic International Co. (ORI) Position Cut by Rhumbline Advisers

Rhumbline Advisers cut its stake in Old Republic International Co. (NYSE:ORI) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,489 shares of the insurance provider’s stock after selling 31,109 shares during the period. Rhumbline Advisers owned 0.22% of Old Republic International worth $14,194,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Old Republic International by 40.3% in the third quarter. JPMorgan Chase & Co. now owns 1,003,301 shares of the insurance provider’s stock worth $22,454,000 after acquiring an additional 288,045 shares during the period. Nordea Investment Management AB raised its position in shares of Old Republic International by 41.9% in the third quarter. Nordea Investment Management AB now owns 212,753 shares of the insurance provider’s stock worth $4,761,000 after acquiring an additional 62,838 shares during the period. Federated Investors Inc. PA raised its position in shares of Old Republic International by 8.8% in the third quarter. Federated Investors Inc. PA now owns 111,885 shares of the insurance provider’s stock worth $2,504,000 after acquiring an additional 9,044 shares during the period. Vanguard Group Inc raised its position in shares of Old Republic International by 3.8% during the 3rd quarter. Vanguard Group Inc now owns 26,280,159 shares of the insurance provider’s stock worth $588,150,000 after purchasing an additional 958,745 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Old Republic International by 2.0% during the 4th quarter. State of Alaska Department of Revenue now owns 30,080 shares of the insurance provider’s stock worth $618,000 after purchasing an additional 583 shares during the last quarter. 73.22% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, April 25th. TheStreet upgraded shares of Old Republic International from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th.

ORI opened at $22.36 on Thursday. Old Republic International Co. has a twelve month low of $19.55 and a twelve month high of $23.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market cap of $6.60 billion, a P/E ratio of 12.02 and a beta of 0.92.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. Old Republic International had a net margin of 11.87% and a return on equity of 10.66%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Old Republic International Co. will post 1.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, June 4th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.80 annualized dividend and a dividend yield of 3.58%. Old Republic International’s dividend payout ratio (DPR) is presently 43.01%.

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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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Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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