Russell Investments Group Ltd. grew its position in shares of Old Republic International Co. (NYSE:ORI) by 16.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 323,028 shares of the insurance provider’s stock after acquiring an additional 45,365 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Old Republic International worth $7,229,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. bought a new position in shares of Old Republic International during the 2nd quarter valued at approximately $45,000. Westside Investment Management Inc. bought a new position in shares of Old Republic International during the 2nd quarter valued at approximately $51,000. Parallel Advisors LLC boosted its position in shares of Old Republic International by 29.1% during the 2nd quarter. Parallel Advisors LLC now owns 2,257 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 509 shares during the last quarter. Signaturefd LLC boosted its position in shares of Old Republic International by 99.5% during the 2nd quarter. Signaturefd LLC now owns 3,044 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 1,518 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Old Republic International during the 2nd quarter valued at approximately $110,000. Hedge funds and other institutional investors own 74.91% of the company’s stock.
ORI traded up $0.21 during trading on Thursday, reaching $22.91. The company had a trading volume of 443,759 shares, compared to its average volume of 1,481,826. The stock has a market cap of $6.82 billion, a P/E ratio of 12.31 and a beta of 0.78. The business has a 50 day simple moving average of $22.68 and a 200-day simple moving average of $22.09. Old Republic International Co. has a 52 week low of $19.55 and a 52 week high of $23.82. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.17.
Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.56 billion. Old Republic International had a return on equity of 10.21% and a net margin of 11.35%. Old Republic International’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. As a group, equities research analysts expect that Old Republic International Co. will post 1.85 EPS for the current fiscal year.
The business also recently declared a None dividend, which will be paid on Monday, September 16th. Investors of record on Friday, September 6th will be given a $1.20 dividend. The ex-dividend date of this dividend is Thursday, September 5th. Old Republic International’s dividend payout ratio is presently 43.01%.
In related news, VP Charles S. Boone sold 15,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $22.84, for a total value of $354,020.00. Following the completion of the sale, the vice president now directly owns 23,250 shares in the company, valued at $531,030. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Karl W. Mueller sold 20,760 shares of the firm’s stock in a transaction 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 owns 52,539 shares of the company’s stock, valued at $1,221,531.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,510 shares of company stock valued at $910,953. 1.90% of the stock is owned by corporate insiders.
A number of brokerages recently issued reports on ORI. JMP Securities downgraded Old Republic International from an “outperform” rating to a “market perform” rating in a research report on Friday, July 12th. Zacks Investment Research downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th.
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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