Hillsdale Investment Management Inc. Buys New Stake in Old Republic International Co. (NYSE:ORI)

Hillsdale Investment Management Inc. acquired a new position in shares of Old Republic International Co. (NYSE:ORI - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 21,400 shares of the insurance provider's stock, valued at approximately $774,000.

A number of other institutional investors also recently added to or reduced their stakes in ORI. Raymond James Financial Inc. acquired a new position in shares of Old Republic International during the fourth quarter worth $67,054,000. Systematic Financial Management LP grew its stake in Old Republic International by 9.6% during the 3rd quarter. Systematic Financial Management LP now owns 882,782 shares of the insurance provider's stock worth $31,268,000 after buying an additional 77,583 shares during the last quarter. JPMorgan Chase & Co. increased its position in Old Republic International by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 851,492 shares of the insurance provider's stock valued at $30,160,000 after buying an additional 42,934 shares in the last quarter. Boston Financial Mangement LLC raised its stake in Old Republic International by 1.2% in the fourth quarter. Boston Financial Mangement LLC now owns 785,190 shares of the insurance provider's stock valued at $28,416,000 after buying an additional 9,011 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Old Republic International by 162.4% in the third quarter. Point72 Asset Management L.P. now owns 610,150 shares of the insurance provider's stock worth $21,612,000 after acquiring an additional 377,605 shares in the last quarter. Institutional investors own 70.92% of the company's stock.

Remove Ads

Old Republic International Stock Performance

Shares of NYSE:ORI traded up $0.43 on Thursday, hitting $39.08. 1,125,750 shares of the company were exchanged, compared to its average volume of 1,227,987. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. The stock's 50 day moving average price is $36.92 and its 200 day moving average price is $36.37. Old Republic International Co. has a 1-year low of $28.59 and a 1-year high of $39.27. The firm has a market capitalization of $9.70 billion, a P/E ratio of 14.86 and a beta of 0.83.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Sell-side analysts predict that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.97%. The ex-dividend date was Monday, March 10th. This is an increase from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's dividend payout ratio is 44.11%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th.

Insiders Place Their Bets

In related news, VP Thomas Dare sold 27,457 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the transaction, the vice president now owns 46,556 shares of the company's stock, valued at $1,699,294. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Craig R. Smiddy sold 5,296 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the sale, the chief executive officer now directly owns 138,222 shares in the company, valued at approximately $5,335,369.20. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,039 shares of company stock valued at $1,580,733. 1.00% of the stock is owned by insiders.

About Old Republic International

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.