Old Republic International Co. (NYSE:ORI) Shares Sold by GAM Holding AG

GAM Holding AG reduced its stake in shares of Old Republic International Co. (NYSE:ORI) by 11.2% during the 1st quarter, HoldingsChannel reports. The fund owned 25,058 shares of the insurance provider’s stock after selling 3,170 shares during the period. GAM Holding AG’s holdings in Old Republic International were worth $524,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc lifted its stake in shares of Old Republic International by 3.8% in the 3rd quarter. Vanguard Group Inc now owns 26,280,159 shares of the insurance provider’s stock valued at $588,150,000 after purchasing an additional 958,745 shares during the last quarter. Keybank National Association OH acquired a new position in shares of Old Republic International in the 4th quarter valued at $202,000. Advisors Asset Management Inc. lifted its stake in shares of Old Republic International by 77.5% in the 4th quarter. Advisors Asset Management Inc. now owns 39,357 shares of the insurance provider’s stock valued at $810,000 after purchasing an additional 17,179 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Old Republic International by 49.2% in the 4th quarter. Rhumbline Advisers now owns 709,598 shares of the insurance provider’s stock valued at $14,596,000 after purchasing an additional 234,136 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Old Republic International by 12.8% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 342,839 shares of the insurance provider’s stock valued at $7,052,000 after purchasing an additional 38,890 shares during the last quarter. Hedge funds and other institutional investors own 73.59% of the company’s stock.

ORI stock opened at $22.69 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $6.82 billion, a P/E ratio of 12.20 and a beta of 0.87. Old Republic International Co. has a 12-month low of $19.55 and a 12-month high of $23.05.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Old Republic International had a return on equity of 10.66% and a net margin of 11.87%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. On average, research analysts expect that Old Republic International Co. will post 1.85 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, June 4th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.80 annualized dividend and a dividend yield of 3.53%. Old Republic International’s dividend payout ratio is presently 43.01%.

Several brokerages have 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 target on the stock in a research note on Thursday, April 25th. TheStreet raised Old Republic International from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th.

In related news, insider Charles S. Boone sold 30,500 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $22.69, for a total value of $692,045.00. Following the sale, the insider now owns 22,750 shares in the company, valued at approximately $516,197.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by insiders.

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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.

Further Reading: What is the quiet period?

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).

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

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