Renaissance Technologies LLC Has $123.08 Million Stake in Old Republic International Corporation (ORI)

Renaissance Technologies LLC increased its position in Old Republic International Corporation (NYSE:ORI) by 61.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,009,785 shares of the insurance provider’s stock after buying an additional 2,291,700 shares during the period. Renaissance Technologies LLC owned about 2.31% of Old Republic International Corporation worth $123,080,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ORI. Delta Asset Management LLC TN boosted its stake in shares of Old Republic International Corporation by 0.7% in the first quarter. Delta Asset Management LLC TN now owns 10,265 shares of the insurance provider’s stock worth $210,000 after buying an additional 75 shares during the period. First Midwest Bank Trust Division raised its position in Old Republic International Corporation by 0.5% in the first quarter. First Midwest Bank Trust Division now owns 15,690 shares of the insurance provider’s stock valued at $321,000 after buying an additional 85 shares in the last quarter. Wetherby Asset Management Inc. raised its position in Old Republic International Corporation by 1.1% in the fourth quarter. Wetherby Asset Management Inc. now owns 19,858 shares of the insurance provider’s stock valued at $378,000 after buying an additional 213 shares in the last quarter. World Asset Management Inc raised its stake in shares of Old Republic International Corporation by 1.8% in the first quarter. World Asset Management Inc now owns 15,146 shares of the insurance provider’s stock worth $310,000 after buying an additional 270 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of Old Republic International Corporation by 0.3% in the fourth quarter. Systematic Financial Management LP now owns 89,840 shares of the insurance provider’s stock worth $1,707,000 after buying an additional 285 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

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

Shares of Old Republic International Corporation (NYSE:ORI) traded down 1.18% during midday trading on Monday, hitting $20.17. The company had a trading volume of 1,554,067 shares. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 12.70 and a beta of 1.20. Old Republic International Corporation has a 12-month low of $16.51 and a 12-month high of $21.19. The company’s 50-day moving average price is $19.90 and its 200 day moving average price is $19.82.

Old Republic International Corporation (NYSE:ORI) last released its quarterly earnings results on Thursday, April 27th. The insurance provider reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. Old Republic International Corporation had a net margin of 7.70% and a return on equity of 9.54%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm earned $0.33 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts predict that Old Republic International Corporation will post $1.47 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, June 5th were given a $0.19 dividend. The ex-dividend date was Thursday, June 1st. This represents a $0.76 annualized dividend and a yield of 3.77%. Old Republic International Corporation’s payout ratio is presently 47.80%.

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ORI has been the topic of a number of recent analyst reports. BidaskClub raised Old Republic International Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday. Zacks Investment Research raised Old Republic International Corporation from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, May 24th.

In other Old Republic International Corporation news, Director Steven J. Bateman purchased 5,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were acquired at an average cost of $19.56 per share, for a total transaction of $97,800.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $293,400. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arnold L. Steiner sold 20,000 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $20.24, for a total transaction of $404,800.00. Following the completion of the transaction, the director now owns 270,237 shares in the company, valued at $5,469,596.88. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

Old Republic International Corporation Company Profile

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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