Arizona State Retirement System added to its position in Old Republic International Co. (NYSE:ORI – Get Rating) by 0.9% during the first quarter, according to the company in its latest filing with the Securities & Exchange Commission. The fund held 78,840 shares of the insurance provider after buying an additional 666 shares during the period. Arizona State Retirement System’s holdings in Old Republic International were worth $2,040,000 when it was last filed with the Securities & Exchange Commission.
Other hedge funds also bought and sold shares of the company. TCI Wealth Advisors Inc. increased its position in Old Republic International shares by 159.4% during the first quarter. TCI Wealth Advisors Inc. now owns 1,074 shares of the insurance provider valued at $28,000 after buying an additional 660 shares last quarter. Quent Capital LLC acquired a new stake in shares of Old Republic International in Q4 worth $32,000. Hardy Reed LLC acquired a new stake in shares of Old Republic International in Q1 worth $36,000. Exane Derivatives acquired a new stake in the shares of Old Republic International during the 4th quarter for a value of approximately $38,000. Finally, Point72 Hong Kong Ltd acquired a new stake in the shares of Old Republic International during the 4th quarter for a value of approximately $46,000. Hedge funds and other institutional investors own 78.43% of the company’s shares.
Insiders place their bets
In other news, Director Lisa J. Caldwell purchased 9,920 shares of the company in a trade on Friday, May 27. The stock was purchased at an average price of $23.63 per share, for a total transaction of $234,409.60. Following the completion of the purchase, the director now directly owns 10,706 shares of the company, valued at approximately $252,982.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. 1.60% of the shares are currently held by insiders.
Old Republic international stock up 1.6%
ORI opened at $23.27 on Monday. The company has a debt ratio of 0.24, a quick ratio of 1.20 and a current ratio of 1.20. Old Republic International Co. has a one-year low of $20.93 and a one-year high of $27.19. The company’s fifty-day moving average is $22.56 and its two-hundred-day moving average is $24.14. The company has a market capitalization of $7.17 billion, a price-earnings ratio of 5.29 and a beta of 0.84.
Old Republic International (NYSE:ORI – Get Rating) last released its results on Thursday, April 28. The insurance provider reported EPS of $0.63 for the quarter, missing the consensus estimate of $0.70 per ($0.07). The company posted revenue of $2.06 billion in the quarter, versus analyst estimates of $2.08 billion. Old Republic International had a net margin of 14.56% and a return on equity of 13.79%. In the same quarter a year earlier, the company posted earnings per share of $0.69. Analysts expect Old Republic International Co. to post EPS of 2.35 for the current fiscal year.
Old Republic International announces dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15. Investors of record on Friday June 3 received a dividend of $0.23. The ex-dividend date was Thursday, June 2. This represents an annualized dividend of $0.92 and a yield of 3.95%. Old Republic International’s payout ratio is currently 20.91%.
Analysts set new price targets
Several brokerages have recently released reports on ORI. Raymond James upgraded Old Republic International from a “strong buy” rating to an “outperform” rating and lowered its price target for the company from $30.00 to $28.00 in a Friday 29 research note. april. StockNews.com downgraded Old Republic International from a “buy” rating to a “hold” rating in a Friday, April 29 report.
Old Republic International Profile
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Old Republic International Corporation, through its subsidiaries, is engaged in the insurance underwriting and related services business primarily in the United States and Canada. The Company operates through three segments: general insurance, title insurance and the Republic Financial Indemnity Group run-off business.
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