APG Asset Management N.V. cut its holdings in shares of Old Republic International Co. (NYSE:ORI) by 18.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,708,400 shares of the insurance provider’s stock after selling 844,600 shares during the quarter. APG Asset Management N.V.’s holdings in Old Republic International were worth $72,878,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in ORI. Captrust Financial Advisors raised its stake in shares of Old Republic International by 246.7% in the 2nd quarter. Captrust Financial Advisors now owns 10,899 shares of the insurance provider’s stock valued at $244,000 after acquiring an additional 7,755 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Old Republic International by 181.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 358,614 shares of the insurance provider’s stock valued at $8,026,000 after acquiring an additional 231,040 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Old Republic International in the 2nd quarter valued at approximately $2,534,000. Veritable L.P. bought a new position in shares of Old Republic International in the 2nd quarter valued at approximately $213,000. Finally, Crawford Investment Counsel Inc. raised its stake in shares of Old Republic International by 0.8% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 687,113 shares of the insurance provider’s stock valued at $15,378,000 after acquiring an additional 5,252 shares in the last quarter. Hedge funds and other institutional investors own 74.91% of the company’s stock.
In other Old Republic International news, 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 transaction, the vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $245,363.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Charles S. Boone sold 15,500 shares of Old Republic International stock in a transaction that occurred 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 transaction, the vice president now directly owns 23,250 shares in the company, valued at $531,030. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 600 shares of company stock worth $13,484 and sold 39,510 shares worth $910,953. Insiders own 1.90% of the company’s stock.
A number of research analysts recently weighed in on the company. JMP Securities downgraded Old Republic International from an “outperform” rating to a “market perform” rating in a research note on Friday, July 12th. Zacks Investment Research downgraded Old Republic International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th.
Shares of NYSE ORI opened at $22.80 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $22.68 and its two-hundred day moving average is $22.09. The company has a market cap of $6.82 billion, a P/E ratio of 12.26 and a beta of 0.78. Old Republic International Co. has a 12 month low of $19.55 and a 12 month high of $23.82.
Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.45 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $1.61 billion for 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%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. Sell-side analysts expect that Old Republic International Co. will post 1.85 earnings per share for the current fiscal year.
The firm also recently declared a None dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, September 6th will be given a $1.20 dividend. The ex-dividend date is Thursday, September 5th. Old Republic International’s dividend payout ratio is currently 43.01%.
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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