Auto Owners Insurance Co Has $47.99 Million Holdings in Oracle Corporation (NYSE:ORCL)

Auto Owners Insurance Co lifted its holdings in Oracle Corporation (NYSE:ORCL - Free Report) by 1,848.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,378 shares of the enterprise software provider's stock after buying an additional 299,191 shares during the period. Oracle comprises approximately 0.9% of Auto Owners Insurance Co's portfolio, making the stock its 24th biggest position. Auto Owners Insurance Co's holdings in Oracle were worth $47,986,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ORCL. Norges Bank acquired a new stake in shares of Oracle in the fourth quarter worth $2,216,314,000. GAMMA Investing LLC boosted its position in Oracle by 15,012.3% during the first quarter. GAMMA Investing LLC now owns 4,755,096 shares of the enterprise software provider's stock valued at $664,810,000 after purchasing an additional 4,723,631 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Oracle by 20.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,825,360 shares of the enterprise software provider's stock valued at $2,303,858,000 after purchasing an additional 2,350,448 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in Oracle by 268.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,077,947 shares of the enterprise software provider's stock valued at $512,909,000 after purchasing an additional 2,242,520 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Oracle by 12.5% during the fourth quarter. Northern Trust Corp now owns 19,620,534 shares of the enterprise software provider's stock valued at $3,269,566,000 after purchasing an additional 2,176,892 shares during the last quarter. Institutional investors and hedge funds own 42.44% of the company's stock.

Oracle Stock Performance

ORCL traded up $2.22 on Friday, hitting $245.05. 7,146,126 shares of the stock traded hands, compared to its average volume of 13,472,494. Oracle Corporation has a 52 week low of $118.86 and a 52 week high of $251.60. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.07. The firm has a market capitalization of $688.31 billion, a PE ratio of 56.46, a P/E/G ratio of 3.62 and a beta of 1.39. The business has a fifty day moving average price of $204.42 and a two-hundred day moving average price of $171.59.

Oracle (NYSE:ORCL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.06. Oracle had a return on equity of 87.34% and a net margin of 21.68%. The firm had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The company's quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts predict that Oracle Corporation will post 5 EPS for the current fiscal year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Thursday, July 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, July 10th. Oracle's payout ratio is 46.08%.

Wall Street Analyst Weigh In

ORCL has been the subject of a number of research reports. Royal Bank Of Canada lifted their price objective on Oracle from $145.00 to $195.00 and gave the company a "sector perform" rating in a research report on Thursday, June 12th. TD Cowen lifted their price objective on Oracle from $250.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Loop Capital set a $135.00 price objective on Oracle in a research report on Tuesday, June 10th. BMO Capital Markets lifted their price objective on Oracle from $235.00 to $245.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Mizuho reduced their price objective on Oracle from $210.00 to $180.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Oracle has a consensus rating of "Moderate Buy" and an average target price of $218.29.

Insider Activity at Oracle

In other Oracle news, EVP Maria Smith sold 10,000 shares of Oracle stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the sale, the executive vice president directly owned 40,807 shares of the company's stock, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rona Alison Fairhead acquired 480 shares of the firm's stock in a transaction on Monday, July 7th. The shares were bought at an average cost of $233.87 per share, for a total transaction of $112,257.60. Following the completion of the acquisition, the director directly owned 22,110 shares of the company's stock, valued at approximately $5,170,865.70. This represents a 2.22% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 448,669 shares of company stock valued at $85,555,309. Corporate insiders own 42.20% of the company's stock.

Oracle Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.