Alpha DNA Investment Management LLC purchased a new stake in Old Republic International Co. (NYSE:ORI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,478 shares of the insurance provider’s stock, valued at approximately $54,000.
Other institutional investors and hedge funds have also modified their holdings of the company. RWM Asset Management LLC acquired a new position in shares of Old Republic International in the 4th quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC acquired a new position in shares of Old Republic International in the 1st quarter valued at approximately $30,000. KBC Group NV acquired a new position in shares of Old Republic International in the 1st quarter valued at approximately $41,000. Winslow Evans & Crocker Inc. acquired a new position in shares of Old Republic International in the 4th quarter valued at approximately $43,000. Finally, Valeo Financial Advisors LLC grew its position in shares of Old Republic International by 80.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,272 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 1,012 shares during the period. Institutional investors and hedge funds own 73.65% of the company’s stock.
Several equities analysts recently issued reports on ORI shares. Zacks Investment Research upgraded Old Republic International from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, April 28th. Raymond James boosted their price objective on Old Republic International from $25.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Monday, April 26th.
Old Republic International (NYSE:ORI) last released its quarterly earnings results on Wednesday, April 21st. The insurance provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.24. Old Republic International had a return on equity of 11.99% and a net margin of 19.29%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $0.47 EPS. The business’s revenue was up 208.2% on a year-over-year basis. As a group, research analysts forecast that Old Republic International Co. will post 2.35 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, June 4th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, June 3rd. Old Republic International’s dividend payout ratio (DPR) is currently 39.29%.
In other news, VP Rande Keith Yeager sold 49,000 shares of the stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $24.33, for a total value of $1,192,170.00. Following the completion of the sale, the vice president now owns 54,297 shares of the company’s stock, valued at approximately $1,321,046.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Denard Kennedy acquired 1,032 shares of the business’s stock in a transaction dated Thursday, May 20th. The stock was bought at an average cost of $26.12 per share, with a total value of $26,955.84. Following the acquisition, the director now owns 3,878 shares in the company, valued at approximately $101,293.36. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 1,782 shares of company stock valued at $45,818. Insiders own 1.90% of the company’s stock.
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. The company operates through three segments: General Insurance, Title Insurance, and the Republic Financial Indemnity Group Run-off Business.
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