Metropolitan Life Insurance Co NY lessened its holdings in Old Republic International Co. (NYSE:ORI) by 2.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 79,458 shares of the insurance provider’s stock after selling 1,921 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Old Republic International were worth $1,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in ORI. AE Wealth Management LLC bought a new stake in Old Republic International in the 2nd quarter valued at $208,000. Westside Investment Management Inc. bought a new stake in Old Republic International in the 2nd quarter valued at $51,000. Arizona State Retirement System increased its holdings in Old Republic International by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 206,682 shares of the insurance provider’s stock valued at $4,626,000 after buying an additional 2,316 shares during the period. Strs Ohio increased its holdings in Old Republic International by 8.1% in the 2nd quarter. Strs Ohio now owns 27,170 shares of the insurance provider’s stock valued at $608,000 after buying an additional 2,026 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in Old Republic International in the 2nd quarter valued at $110,000. 75.17% of the stock is currently owned by hedge funds and other institutional investors.
ORI opened at $22.28 on Thursday. The firm’s 50-day simple moving average is $22.80 and its 200-day simple moving average is $22.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.49 and a current ratio of 0.49. Old Republic International Co. has a twelve month low of $19.55 and a twelve month high of $24.10. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 11.98 and a beta of 0.74.
Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, October 24th. The insurance provider reported $0.51 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. Old Republic International had a net margin of 10.27% and a return on equity of 9.76%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Old Republic International Co. will post 1.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Thursday, December 5th. Old Republic International’s payout ratio is 43.01%.
In other Old Republic International news, insider Calderon Alberto 44,042 shares of Old Republic International stock in a transaction on Monday, November 4th. In the last ninety days, insiders bought 600 shares of company stock worth $13,652. 1.90% of the stock is owned by insiders.
ORI has been the topic of several analyst reports. Zacks Investment Research lowered shares of Old Republic International from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 16th. ValuEngine raised shares of Old Republic International from a “sell” rating to a “hold” rating in a report on Friday, October 25th.
Old Republic International Company Profile
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 Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.
Featured Story: What are the disadvantages of after-hours trading?
Want to see what other hedge funds are holding ORI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Republic International Co. (NYSE:ORI).
Receive News & Ratings for Old Republic International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Republic International and related companies with MarketBeat.com's FREE daily email newsletter.