Bank of Montreal Can Buys 285,130 Shares of Old Republic International Co. (ORI)
Bank of Montreal Can raised its stake in Old Republic International Co. (NYSE:ORI) by 378.7% during the fourth quarter, Holdings Channel reports. The fund owned 360,418 shares of the insurance provider’s stock after buying an additional 285,130 shares during the period. Bank of Montreal Can’s holdings in Old Republic International were worth $7,705,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ORI. Valeo Financial Advisors LLC purchased a new stake in shares of Old Republic International during the third quarter valued at $118,000. DekaBank Deutsche Girozentrale boosted its position in shares of Old Republic International by 78.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,999 shares of the insurance provider’s stock valued at $155,000 after buying an additional 3,513 shares during the last quarter. Narus Financial Partners LLC purchased a new stake in shares of Old Republic International during the third quarter valued at $206,000. Moors & Cabot Inc. purchased a new stake in shares of Old Republic International during the third quarter valued at $206,000. Finally, Parametrica Management Ltd purchased a new stake in shares of Old Republic International during the third quarter valued at $240,000. 70.66% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on ORI. Zacks Investment Research cut Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $23.00 to $25.00 in a research report on Monday, October 30th.
Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, January 25th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Old Republic International had a return on equity of 6.80% and a net margin of 8.95%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. equities analysts anticipate that Old Republic International Co. will post 1.7 EPS for the current fiscal year.
The company also recently announced a None dividend, which was paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th were given a $1.00 dividend. The ex-dividend date was Tuesday, January 9th. Old Republic International’s payout ratio is 39.79%.
In other Old Republic International news, VP Charles S. Boone sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $20.96, for a total value of $314,400.00. Following the transaction, the vice president now directly owns 22,750 shares of the company’s stock, valued at $476,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO R Scott Rager sold 47,500 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $21.00, for a total value of $997,500.00. Following the completion of the transaction, the chief operating officer now directly owns 40,000 shares in the company, valued at $840,000. The disclosure for this sale can be found here. Insiders sold 81,552 shares of company stock worth $1,711,992 over the last three months. Insiders own 2.00% of the company’s stock.
Old Republic International 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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