WBI Investments Inc. bought a new position in shares of Old Republic International (NYSE:ORI) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 28,992 shares of the insurance provider’s stock, valued at approximately $622,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new position in shares of Old Republic International during the 4th quarter worth about $145,000. SeaCrest Wealth Management LLC acquired a new position in shares of Old Republic International during the 4th quarter worth about $206,000. Jump Trading LLC acquired a new position in shares of Old Republic International during the 4th quarter worth about $227,000. Bank of Hawaii acquired a new position in shares of Old Republic International during the 1st quarter worth about $237,000. Finally, Jane Street Group LLC acquired a new position in shares of Old Republic International during the 4th quarter worth about $260,000. Hedge funds and other institutional investors own 74.30% of the company’s stock.
ORI has been the subject of a number of recent research reports. ValuEngine downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. JMP Securities upgraded shares of Old Republic International from a “market perform” rating to an “outperform” rating in a research note on Monday, February 12th. Finally, Zacks Investment Research downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Old Republic International currently has a consensus rating of “Hold” and a consensus price target of $24.00.
Shares of NYSE:ORI opened at $21.23 on Friday. Old Republic International has a 52-week low of $17.92 and a 52-week high of $22.34. The stock has a market capitalization of $6.42 billion, a P/E ratio of 18.30 and a beta of 1.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.47 and a quick ratio of 0.47.
Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, April 26th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). Old Republic International had a net margin of 7.34% and a return on equity of 6.80%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business posted $0.39 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. sell-side analysts expect that Old Republic International will post 1.7 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, June 5th will be paid a $0.195 dividend. The ex-dividend date is Monday, June 4th. This represents a $0.78 annualized dividend and a yield of 3.67%. Old Republic International’s dividend payout ratio (DPR) is currently 70.27%.
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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