Old Republic International Co. (NYSE:ORI) Stake Boosted by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its holdings in Old Republic International Co. (NYSE:ORI) by 32.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,919 shares of the insurance provider’s stock after purchasing an additional 11,083 shares during the period. Convergence Investment Partners LLC’s holdings in Old Republic International were worth $733,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. State Street Corp boosted its holdings in Old Republic International by 1.1% in the first quarter. State Street Corp now owns 21,520,807 shares of the insurance provider’s stock worth $328,192,000 after purchasing an additional 235,683 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Old Republic International by 1.4% in the first quarter. Victory Capital Management Inc. now owns 7,281,252 shares of the insurance provider’s stock worth $111,039,000 after purchasing an additional 100,921 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Old Republic International by 5.8% in the first quarter. Franklin Resources Inc. now owns 5,859,043 shares of the insurance provider’s stock worth $89,351,000 after purchasing an additional 319,337 shares in the last quarter. Hamlin Capital Management LLC boosted its holdings in Old Republic International by 12.8% in the second quarter. Hamlin Capital Management LLC now owns 4,064,255 shares of the insurance provider’s stock worth $66,288,000 after purchasing an additional 461,006 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Old Republic International by 0.7% in the first quarter. Geode Capital Management LLC now owns 4,003,782 shares of the insurance provider’s stock worth $61,501,000 after purchasing an additional 28,556 shares in the last quarter. Hedge funds and other institutional investors own 74.16% of the company’s stock.

In related news, Director Aldo C. Zucaro acquired 1,500 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was acquired at an average price of $18.22 per share, with a total value of $27,330.00. Following the completion of the transaction, the director now owns 1,305,080 shares of the company’s stock, valued at $23,778,557.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven J. Bateman acquired 2,500 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were bought at an average cost of $16.33 per share, with a total value of $40,825.00. Following the transaction, the director now directly owns 21,476 shares of the company’s stock, valued at approximately $350,703.08. The disclosure for this purchase can be found here. Insiders have bought 12,900 shares of company stock valued at $199,034 in the last ninety days. 1.90% of the stock is owned by company insiders.

Old Republic International stock traded down $0.19 on Friday, reaching $16.07. 4,322,020 shares of the stock were exchanged, compared to its average volume of 1,928,119. The stock has a market cap of $4.89 billion, a PE ratio of 8.59 and a beta of 0.86. The company has a current ratio of 1.21, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17. Old Republic International Co. has a twelve month low of $11.88 and a twelve month high of $24.10. The firm has a fifty day moving average price of $16.27 and a two-hundred day moving average price of $17.79.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.95 billion. Old Republic International had a net margin of 4.26% and a return on equity of 9.87%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. Equities analysts anticipate that Old Republic International Co. will post 1.7 EPS for the current fiscal year.

A number of research firms have weighed in on ORI. ValuEngine lowered shares of Old Republic International from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Raymond James cut their target price on shares of Old Republic International from $23.00 to $21.00 and set a “strong-buy” rating for the company in a research report on Monday, April 27th. Finally, Zacks Investment Research raised shares of Old Republic International from a “sell” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research report on Thursday, June 18th.

Old Republic International 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.

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Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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