Bank of New York Mellon Corp grew its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,918,236 shares of the insurance provider's stock after buying an additional 100,264 shares during the period. Bank of New York Mellon Corp owned 1.18% of Old Republic International worth $114,453,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. HWG Holdings LP purchased a new stake in Old Republic International during the 1st quarter worth about $25,000. Alpine Bank Wealth Management bought a new position in Old Republic International in the 1st quarter worth about $31,000. SBI Securities Co. Ltd. bought a new position in Old Republic International in the 4th quarter worth about $34,000. Wayfinding Financial LLC bought a new position in Old Republic International in the 1st quarter worth about $34,000. Finally, Dunhill Financial LLC bought a new position in Old Republic International in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 70.92% of the company's stock.
Insider Transactions at Old Republic International
In related news, SVP Carolyn Monroe sold 10,601 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $37.38, for a total transaction of $396,265.38. Following the transaction, the senior vice president directly owned 35,755 shares in the company, valued at $1,336,521.90. This trade represents a 22.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.
Old Republic International Price Performance
Shares of Old Republic International stock traded down $0.03 during trading on Friday, hitting $36.60. 1,625,460 shares of the stock traded hands, compared to its average volume of 1,217,302. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.27. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 14.88 and a beta of 0.73. The firm's fifty day moving average is $37.66 and its 200-day moving average is $37.12. Old Republic International Corporation has a 52 week low of $31.17 and a 52 week high of $39.84.
Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.73 by $0.08. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.03 billion. Old Republic International had a return on equity of 20.99% and a net margin of 9.37%. Old Republic International's revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.
Old Republic International Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were given a dividend of $0.29 per share. The ex-dividend date was Friday, June 6th. This represents a $1.16 annualized dividend and a yield of 3.17%. Old Republic International's payout ratio is 47.15%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Piper Sandler set a $42.00 target price on Old Republic International in a research note on Friday, April 25th. Wall Street Zen upgraded Old Republic International from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Finally, Raymond James Financial set a $42.00 target price on Old Republic International and gave the stock an "outperform" rating in a research note on Monday, April 28th.
Check Out Our Latest Stock Report on ORI
Old Republic International Company Profile
(
Free Report)
Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.
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