Old Republic International Co. (ORI) Shares Sold by CHURCHILL MANAGEMENT Corp
CHURCHILL MANAGEMENT Corp trimmed its holdings in shares of Old Republic International Co. (NYSE:ORI) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,015,342 shares of the insurance provider’s stock after selling 11,770 shares during the period. Old Republic International accounts for approximately 0.5% of CHURCHILL MANAGEMENT Corp’s holdings, making the stock its 28th largest holding. CHURCHILL MANAGEMENT Corp’s holdings in Old Republic International were worth $21,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. APG Asset Management N.V. acquired a new position in Old Republic International in the 3rd quarter valued at $5,182,000. Nordea Investment Management AB raised its stake in Old Republic International by 22.9% in the 2nd quarter. Nordea Investment Management AB now owns 95,761 shares of the insurance provider’s stock valued at $1,870,000 after purchasing an additional 17,814 shares during the last quarter. Koch Industries Inc. acquired a new position in Old Republic International in the 2nd quarter valued at $385,000. Swiss National Bank raised its stake in Old Republic International by 1.8% in the 3rd quarter. Swiss National Bank now owns 418,700 shares of the insurance provider’s stock valued at $8,244,000 after purchasing an additional 7,600 shares during the last quarter. Finally, South Dakota Investment Council raised its stake in Old Republic International by 17.1% in the 2nd quarter. South Dakota Investment Council now owns 56,100 shares of the insurance provider’s stock valued at $1,096,000 after purchasing an additional 8,200 shares during the last quarter. 70.64% of the stock is owned by institutional investors and hedge funds.
In other Old Republic International news, COO R Scott Rager sold 47,500 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $21.00, for a total value of $997,500.00. Following the completion of the sale, the chief operating officer now directly owns 40,000 shares of the company’s stock, valued at approximately $840,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Charles S. Boone sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $20.96, for a total value of $314,400.00. Following the completion of the sale, the vice president now directly owns 22,750 shares of the company’s stock, valued at $476,840. The disclosure for this sale can be found here. Insiders sold a total of 81,552 shares of company stock valued at $1,711,992 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.
Several research firms recently commented on ORI. Zacks Investment Research raised Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, December 28th. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $23.00 to $25.00 in a research note on Monday, October 30th.
Old Republic International Co. (ORI) traded up $0.07 during midday trading on Thursday, reaching $19.83. The company had a trading volume of 2,322,419 shares, compared to its average volume of 2,908,790. Old Republic International Co. has a 1 year low of $17.92 and a 1 year high of $21.56. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The firm has a market cap of $5,230.00, a P/E ratio of 14.69 and a beta of 1.36.
Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.06. Old Republic International had a return on equity of 7.50% and a net margin of 6.45%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the company earned $0.37 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. research analysts predict that Old Republic International Co. will post 1.17 EPS for the current fiscal year.
The business also recently announced a None dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. Old Republic International’s dividend payout ratio (DPR) is presently 56.30%.
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About Old Republic International
Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.
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