AGF Management Ltd. cut its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 23.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,432 shares of the insurance provider's stock after selling 21,226 shares during the quarter. AGF Management Ltd.'s holdings in Old Republic International were worth $2,440,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Old Republic International during the 4th quarter valued at about $67,054,000. Systematic Financial Management LP raised its holdings in Old Republic International by 9.6% in the 3rd quarter. Systematic Financial Management LP now owns 882,782 shares of the insurance provider's stock worth $31,268,000 after acquiring an additional 77,583 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Old Republic International by 5.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 851,492 shares of the insurance provider's stock valued at $30,160,000 after acquiring an additional 42,934 shares in the last quarter. Boston Financial Mangement LLC boosted its stake in Old Republic International by 1.2% during the 4th quarter. Boston Financial Mangement LLC now owns 785,190 shares of the insurance provider's stock valued at $28,416,000 after purchasing an additional 9,011 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Old Republic International by 162.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 610,150 shares of the insurance provider's stock worth $21,612,000 after purchasing an additional 377,605 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th.
Read Our Latest Analysis on ORI
Old Republic International Stock Performance
Shares of ORI stock traded up $0.12 during trading hours on Monday, reaching $37.50. The company had a trading volume of 1,698,509 shares, compared to its average volume of 1,178,522. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. The business has a fifty day moving average price of $36.33 and a 200-day moving average price of $36.24. Old Republic International Co. has a one year low of $28.59 and a one year high of $39.27. The firm has a market cap of $9.31 billion, a PE ratio of 14.26 and a beta of 0.83.
Old Republic International (NYSE:ORI - Get Free Report) last posted its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Sell-side analysts predict that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.
Old Republic International Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's dividend payout ratio is 44.11%.
Insider Buying and Selling at Old Republic International
In related news, VP Thomas Dare sold 27,457 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the sale, the vice president now directly owns 46,556 shares of the company's stock, valued at approximately $1,699,294. This represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 of the company's stock, valued at approximately $5,335,369.20. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,039 shares of company stock valued at $1,580,733. 1.00% of the stock is owned by company insiders.
About Old Republic International
(
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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