Old Republic International Co. (NYSE:ORI) Shares Sold by Pinnacle Associates Ltd.

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Pinnacle Associates Ltd. decreased its position in Old Republic International Co. (NYSE:ORI) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,820 shares of the insurance provider’s stock after selling 1,420 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Old Republic International were worth $1,540,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ORI. Rothschild & Co. Asset Management US Inc. acquired a new stake in Old Republic International in the first quarter valued at approximately $27,593,000. BlackRock Inc. raised its holdings in Old Republic International by 3.1% during the first quarter. BlackRock Inc. now owns 32,854,067 shares of the insurance provider’s stock worth $687,308,000 after purchasing an additional 998,205 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Old Republic International by 55.1% during the first quarter. Wells Fargo & Company MN now owns 2,077,261 shares of the insurance provider’s stock worth $43,457,000 after purchasing an additional 737,560 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Old Republic International by 565.0% during the second quarter. BNP Paribas Arbitrage SA now owns 477,736 shares of the insurance provider’s stock worth $10,692,000 after purchasing an additional 405,900 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Old Republic International by 55.8% during the first quarter. First Trust Advisors LP now owns 880,670 shares of the insurance provider’s stock worth $18,424,000 after purchasing an additional 315,388 shares in the last quarter. 72.71% of the stock is currently owned by hedge funds and other institutional investors.

ORI stock opened at $22.79 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.17. Old Republic International Co. has a twelve month low of $19.55 and a twelve month high of $23.39. The company’s 50 day moving average is $22.75 and its two-hundred day moving average is $21.87. The stock has a market cap of $6.67 billion, a P/E ratio of 12.25 and a beta of 0.80.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. Old Republic International had a net margin of 11.35% and a return on equity of 10.21%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the company earned $0.47 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts predict that Old Republic International Co. will post 1.85 earnings per share for the current year.

The firm also recently announced a None dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, September 6th will be given a dividend of $1.20 per share. The ex-dividend date is Thursday, September 5th. Old Republic International’s dividend payout ratio (DPR) is presently 43.01%.

ORI has been the topic of a number of research analyst reports. JMP Securities cut shares of Old Republic International from an “outperform” rating to a “market perform” rating in a report on Friday, July 12th. Zacks Investment Research cut shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th.

In other news, insider Charles S. Boone sold 30,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $22.69, for a total transaction of $692,045.00. Following the transaction, the insider now directly owns 22,750 shares in the company, valued at $516,197.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have bought 600 shares of company stock worth $13,500. Insiders own 1.90% of the company’s stock.

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 Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.

Further Reading: Stop Order Uses For Individual Investors

Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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