BlackRock Inc. raised its position in Old Republic International Co. (NYSE:ORI) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,466,270 shares of the insurance provider’s stock after purchasing an additional 612,203 shares during the quarter. BlackRock Inc. owned 11.04% of Old Republic International worth $748,972,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in Old Republic International by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 4,153,365 shares of the insurance provider’s stock valued at $92,953,000 after purchasing an additional 42,724 shares during the last quarter. Invesco Ltd. raised its position in Old Republic International by 4.2% in the second quarter. Invesco Ltd. now owns 2,585,705 shares of the insurance provider’s stock valued at $57,868,000 after purchasing an additional 104,127 shares during the last quarter. Prudential Financial Inc. raised its position in Old Republic International by 5.3% in the second quarter. Prudential Financial Inc. now owns 2,456,006 shares of the insurance provider’s stock valued at $54,966,000 after purchasing an additional 124,277 shares during the last quarter. Nuveen Asset Management LLC raised its position in Old Republic International by 113.0% in the second quarter. Nuveen Asset Management LLC now owns 2,428,683 shares of the insurance provider’s stock valued at $54,354,000 after purchasing an additional 1,288,469 shares during the last quarter. Finally, UBS Group AG raised its position in Old Republic International by 53.5% in the second quarter. UBS Group AG now owns 1,880,859 shares of the insurance provider’s stock valued at $42,093,000 after purchasing an additional 655,772 shares during the last quarter. Hedge funds and other institutional investors own 75.02% of the company’s stock.
ORI has been the subject of several research reports. Zacks Investment Research downgraded Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 16th. ValuEngine upgraded Old Republic International from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Raymond James lowered their price objective on Old Republic International from $27.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Friday, October 25th. Finally, JMP Securities downgraded Old Republic International from an “outperform” rating to a “market perform” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $25.00.
Shares of ORI opened at $22.80 on Friday. Old Republic International Co. has a 1 year low of $19.55 and a 1 year high of $24.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.49 and a quick ratio of 0.48. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 12.26 and a beta of 0.75. The business has a 50-day moving average of $23.12 and a 200-day moving average of $22.71.
Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $0.51 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.51. Old Republic International had a return on equity of 9.76% and a net margin of 10.27%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the company earned $0.56 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Old Republic International Co. will post 1.75 EPS for the current year.
In other Old Republic International news, CFO Karl W. Mueller sold 20,760 shares of Old Republic International stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $23.25, for a total value of $482,670.00. Following the completion of the sale, the chief financial officer now directly owns 52,539 shares in the company, valued at $1,221,531.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Cheryl A. Jones sold 3,250 shares of Old Republic International stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $22.85, for a total value of $74,262.50. Following the completion of the sale, the vice president now owns 10,738 shares of the company’s stock, valued at $245,363.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 600 shares of company stock valued at $13,516 and have sold 39,510 shares valued at $910,953. 1.90% of the stock is owned by company insiders.
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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