Dimensional Fund Advisors LP boosted its position in Old Republic International Co. (NYSE:ORI) by 9.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,156,438 shares of the insurance provider’s stock after purchasing an additional 607,938 shares during the period. Dimensional Fund Advisors LP’s holdings in Old Republic International were worth $141,051,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Old Republic International by 5.6% in the fourth quarter. Victory Capital Management Inc. now owns 9,009,208 shares of the insurance provider’s stock valued at $177,571,000 after buying an additional 479,283 shares during the last quarter. Principal Financial Group Inc. raised its position in Old Republic International by 708.0% during the fourth quarter. Principal Financial Group Inc. now owns 8,132,773 shares of the insurance provider’s stock valued at $160,297,000 after purchasing an additional 7,126,238 shares in the last quarter. Owl Creek Asset Management L.P. raised its stake in Old Republic International by 606.9% during the fourth quarter. Owl Creek Asset Management L.P. now owns 6,366,006 shares of the insurance provider’s stock worth $125,474,000 after acquiring an additional 5,465,406 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Old Republic International by 6.1% during the 4th quarter. Bank of New York Mellon Corp now owns 4,009,769 shares of the insurance provider’s stock valued at $79,033,000 after acquiring an additional 229,481 shares in the last quarter. Finally, Alleghany Corp DE raised its position in Old Republic International by 25.6% during the 4th quarter. Alleghany Corp DE now owns 2,908,365 shares of the insurance provider’s stock worth $57,324,000 after purchasing an additional 592,890 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.
Several brokerages recently weighed in on ORI. Zacks Investment Research cut shares of Old Republic International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Raymond James raised their price target on shares of Old Republic International from $21.00 to $25.00 and gave the company a “strong-buy” rating in a report on Monday.
Old Republic International (NYSE:ORI) last announced its earnings results on Wednesday, January 27th. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.32. Old Republic International had a return on equity of 10.24% and a net margin of 4.85%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The business’s revenue was up 16.6% compared to the same quarter last year. Analysts predict that Old Republic International Co. will post 1.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Tuesday, March 9th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Monday, March 8th. This is a boost from Old Republic International’s previous quarterly dividend of $0.21. Old Republic International’s payout ratio is 47.83%.
In other news, EVP Stephen J. Oberst sold 14,000 shares of the stock in a transaction on Friday, February 5th. The stock was sold at an average price of $19.21, for a total value of $268,940.00. Following the sale, the executive vice president now directly owns 20,771 shares of the company’s stock, valued at $399,010.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael Denard Kennedy purchased 1,352 shares of Old Republic International stock in a transaction dated Monday, February 22nd. The shares were bought at an average price of $19.94 per share, with a total value of $26,958.88. Following the completion of the acquisition, the director now directly owns 2,846 shares of the company’s stock, valued at $56,749.24. The disclosure for this purchase can be found here. Insiders purchased a total of 2,102 shares of company stock worth $41,894 in the last 90 days. 1.90% of the stock is currently owned by company insiders.
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, Title Insurance, and the Republic Financial Indemnity Group Run-off Business.
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