State of Alaska Department of Revenue Has $1.19 Million Stock Position in Old Republic International Co. (NYSE:ORI)

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State of Alaska Department of Revenue increased its position in shares of Old Republic International Co. (NYSE:ORI) by 64.9% in the third quarter, HoldingsChannel reports. The firm owned 50,679 shares of the insurance provider’s stock after purchasing an additional 19,949 shares during the period. State of Alaska Department of Revenue’s holdings in Old Republic International were worth $1,194,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Old Republic International by 1.9% during the 2nd quarter. BlackRock Inc. now owns 33,466,270 shares of the insurance provider’s stock worth $748,972,000 after purchasing an additional 612,203 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Old Republic International by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,153,365 shares of the insurance provider’s stock worth $92,953,000 after purchasing an additional 42,724 shares in the last quarter. Invesco Ltd. increased its position in shares of Old Republic International by 4.2% during the 2nd quarter. Invesco Ltd. now owns 2,585,705 shares of the insurance provider’s stock worth $57,868,000 after purchasing an additional 104,127 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Old Republic International by 5.3% during the 2nd quarter. Prudential Financial Inc. now owns 2,456,006 shares of the insurance provider’s stock worth $54,966,000 after purchasing an additional 124,277 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Old Republic International by 113.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,428,683 shares of the insurance provider’s stock worth $54,354,000 after purchasing an additional 1,288,469 shares in the last quarter. Institutional investors and hedge funds own 74.80% of the company’s stock.

In other Old Republic International news, CFO Karl W. Mueller sold 20,760 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $23.25, for a total transaction of $482,670.00. Following the sale, the chief financial officer now owns 52,539 shares of the company’s stock, valued at approximately $1,221,531.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Cheryl A. Jones sold 3,250 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $22.85, for a total transaction of $74,262.50. Following the sale, the vice president now directly owns 10,738 shares in the company, valued at approximately $245,363.30. The disclosure for this sale can be found here. In the last three months, insiders have acquired 600 shares of company stock worth $13,516 and have sold 39,510 shares worth $910,953. 1.90% of the stock is owned by corporate insiders.

Shares of NYSE:ORI opened at $23.40 on Friday. Old Republic International Co. has a 12 month low of $19.55 and a 12 month high of $23.82. The company’s 50-day moving average price is $23.03 and its two-hundred day moving average price is $22.42. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.17. The firm has a market cap of $6.96 billion, a P/E ratio of 12.35 and a beta of 0.77.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Old Republic International had a net margin of 11.35% and a return on equity of 10.21%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The company’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts predict that Old Republic International Co. will post 1.85 earnings per share for the current fiscal year.

The business also recently disclosed a None dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, September 6th were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, September 5th. Old Republic International’s dividend payout ratio is currently 43.01%.

A number of equities research analysts have commented on the stock. JMP Securities lowered shares of Old Republic International from an “outperform” rating to a “market perform” rating in a report on Friday, July 12th. ValuEngine lowered shares of Old Republic International from a “hold” rating to a “sell” rating in a report on Friday. Finally, Zacks Investment Research lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th.

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 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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