Commonwealth Bank of Australia increased its stake in shares of Old Republic International Corporation (NYSE:ORI) by 93.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,200 shares of the insurance provider’s stock after acquiring an additional 19,400 shares during the period. Commonwealth Bank of Australia’s holdings in Old Republic International were worth $789,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ffcm LLC raised its stake in Old Republic International by 185.0% in the second quarter. Ffcm LLC now owns 6,008 shares of the insurance provider’s stock valued at $119,000 after buying an additional 3,900 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Old Republic International by 78.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,999 shares of the insurance provider’s stock valued at $155,000 after buying an additional 3,513 shares during the period. Legg Mason Asset Management Japan Co. Ltd. bought a new stake in Old Republic International in the second quarter valued at approximately $174,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Old Republic International by 7.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,655 shares of the insurance provider’s stock valued at $189,000 after buying an additional 710 shares during the period. Finally, Parametrica Management Ltd bought a new stake in Old Republic International in the third quarter valued at approximately $240,000. Institutional investors and hedge funds own 70.67% of the company’s stock.
Several analysts have issued reports on the company. Raymond James Financial upgraded Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $23.00 to $25.00 in a research note on Monday, October 30th. Zacks Investment Research lowered Old Republic International from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th.
Shares of Old Republic International Corporation (NYSE ORI) traded down $0.01 during midday trading on Thursday, hitting $20.70. The stock had a trading volume of 1,269,200 shares, compared to its average volume of 1,344,919. The company has a market capitalization of $5,463.44, a price-to-earnings ratio of 16.98 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.51. Old Republic International Corporation has a one year low of $17.92 and a one year high of $21.19.
Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, October 26th. The insurance provider reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.06. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. Old Republic International had a return on equity of 7.50% and a net margin of 6.45%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. research analysts predict that Old Republic International Corporation will post 1.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 4th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.67%. Old Republic International’s dividend payout ratio (DPR) is currently 55.47%.
About Old Republic International
Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.
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