Cpwm LLC Takes $492,000 Position in Old Republic International Co. (ORI)
Cpwm LLC bought a new stake in shares of Old Republic International Co. (NYSE:ORI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 21,971 shares of the insurance provider’s stock, valued at approximately $492,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its holdings in Old Republic International by 7.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,432,616 shares of the insurance provider’s stock valued at $28,524,000 after acquiring an additional 101,814 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Old Republic International by 8.0% in the 2nd quarter. Wells Fargo & Company MN now owns 721,939 shares of the insurance provider’s stock valued at $14,374,000 after acquiring an additional 53,381 shares during the last quarter. California Public Employees Retirement System increased its holdings in Old Republic International by 10.8% in the 2nd quarter. California Public Employees Retirement System now owns 734,310 shares of the insurance provider’s stock valued at $14,620,000 after acquiring an additional 71,301 shares during the last quarter. First Midwest Bank Trust Division bought a new stake in Old Republic International in the 3rd quarter valued at $219,000. Finally, JPMorgan Chase & Co. increased its holdings in Old Republic International by 40.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,003,301 shares of the insurance provider’s stock valued at $22,454,000 after acquiring an additional 288,045 shares during the last quarter. Institutional investors own 72.93% of the company’s stock.
Old Republic International stock opened at $22.09 on Friday. Old Republic International Co. has a twelve month low of $19.48 and a twelve month high of $23.05. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market capitalization of $6.70 billion, a PE ratio of 12.59 and a beta of 1.07.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, December 4th will be issued a $0.195 dividend. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $0.78 dividend on an annualized basis and a dividend yield of 3.53%. Old Republic International’s dividend payout ratio (DPR) is presently 70.27%.
Separately, Zacks Investment Research upgraded shares of Old Republic International from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a report on Thursday, November 1st.
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Old Republic International 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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