Bank of New York Mellon Corp raised its stake in shares of Old Republic International Corporation (NYSE:ORI – Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,241,253 shares of the insurance provider’s stock after purchasing an additional 388,866 shares during the period. Bank of New York Mellon Corp owned 0.05% of Old Republic International worth $488,426,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Illinois Municipal Retirement Fund increased its stake in shares of Old Republic International by 56.3% during the first quarter. Illinois Municipal Retirement Fund now owns 157,973 shares of the insurance provider’s stock worth $6,303,000 after purchasing an additional 56,913 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Old Republic International by 29.8% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 40,646 shares of the insurance provider’s stock valued at $1,622,000 after buying an additional 9,323 shares in the last quarter. State of Michigan Retirement System lifted its stake in Old Republic International by 1.9% in the 1st quarter. State of Michigan Retirement System now owns 54,778 shares of the insurance provider’s stock valued at $2,186,000 after buying an additional 1,000 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Old Republic International by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 508,492 shares of the insurance provider’s stock worth $20,289,000 after buying an additional 18,942 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in Old Republic International by 16.7% in the 1st quarter. Chicago Partners Investment Group LLC now owns 17,416 shares of the insurance provider’s stock worth $733,000 after buying an additional 2,492 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.
Insiders Place Their Bets
In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total transaction of $516,670.80. Following the transaction, the senior vice president owned 32,261 shares of the company’s stock, valued at approximately $1,250,436.36. The trade was a 29.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.32% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on Old Republic International
Old Republic International Stock Up 2.8%
ORI stock opened at $41.43 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $39.53 and a two-hundred day moving average of $40.65. Old Republic International Corporation has a 12 month low of $35.60 and a 12 month high of $46.76. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 11.11 and a beta of 0.58.
Old Republic International (NYSE:ORI – Get Free Report) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. As a group, analysts forecast that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.
Old Republic International Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a dividend of $0.315 per share. The ex-dividend date was Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a yield of 3.0%. Old Republic International’s dividend payout ratio (DPR) is presently 33.78%.
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. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.
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