Commonwealth Bank of Australia Raises Stake in Old Republic International Co. (ORI)
Commonwealth Bank of Australia grew its holdings in Old Republic International Co. (NYSE:ORI) by 21.9% during the first quarter, HoldingsChannel.com reports. The firm owned 103,046 shares of the insurance provider’s stock after buying an additional 18,483 shares during the period. Commonwealth Bank of Australia’s holdings in Old Republic International were worth $2,151,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Penserra Capital Management LLC acquired a new position in Old Republic International in the fourth quarter worth approximately $29,000. Pearl River Capital LLC acquired a new position in Old Republic International in the fourth quarter worth approximately $33,000. Clarfeld Financial Advisors LLC acquired a new position in Old Republic International in the fourth quarter worth approximately $33,000. Omnia Family Wealth LLC acquired a new position in Old Republic International in the fourth quarter worth approximately $34,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Old Republic International in the first quarter worth approximately $43,000. Institutional investors own 73.59% of the company’s stock.
A number of research firms recently commented on ORI. Zacks Investment Research upgraded Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, April 25th. TheStreet upgraded Old Republic International from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th.
Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Old Republic International had a return on equity of 10.66% and a net margin of 11.87%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts anticipate 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 dividend on an annualized basis and a yield of 3.63%. Old Republic International’s dividend payout ratio is currently 43.01%.
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Old Republic International Company 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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