Penserra Capital Management LLC Grows Position in Old Republic International Co. (NYSE:ORI)
Penserra Capital Management LLC boosted its stake in shares of Old Republic International Co. (NYSE:ORI) by 79.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,408 shares of the insurance provider’s stock after purchasing an additional 1,508 shares during the period. Penserra Capital Management LLC’s holdings in Old Republic International were worth $77,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Old Republic International by 64.1% in the 4th quarter. Victory Capital Management Inc. now owns 7,183,071 shares of the insurance provider’s stock valued at $161,978,000 after purchasing an additional 2,807,051 shares during the period. FMR LLC lifted its stake in shares of Old Republic International by 188.5% in the 4th quarter. FMR LLC now owns 5,835,560 shares of the insurance provider’s stock valued at $130,542,000 after purchasing an additional 3,813,092 shares during the period. Hamlin Capital Management LLC lifted its stake in shares of Old Republic International by 0.4% in the 4th quarter. Hamlin Capital Management LLC now owns 3,224,391 shares of the insurance provider’s stock valued at $72,130,000 after purchasing an additional 13,904 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Old Republic International in the 4th quarter valued at $58,545,000. Finally, Raymond James & Associates lifted its stake in shares of Old Republic International by 13.5% in the 4th quarter. Raymond James & Associates now owns 2,111,837 shares of the insurance provider’s stock valued at $47,242,000 after purchasing an additional 250,921 shares during the period. 76.68% of the stock is currently owned by institutional investors.
NYSE:ORI traded up $1.22 during trading hours on Thursday, reaching $14.80. 2,787,130 shares of the company were exchanged, compared to its average volume of 2,071,489. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average is $20.03 and its 200-day moving average is $22.08. The firm has a market cap of $4.23 billion, a PE ratio of 4.23 and a beta of 0.78. Old Republic International Co. has a twelve month low of $11.88 and a twelve month high of $24.10.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 6th. This is a boost from Old Republic International’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 5.68%. Old Republic International’s dividend payout ratio is currently 45.65%.
Separately, Zacks Investment Research cut shares of Old Republic International from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th.
In related news, Director Peter Mcnitt acquired 7,500 shares of Old Republic International stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $19.90 per share, for a total transaction of $149,250.00. Following the completion of the transaction, the director now owns 7,500 shares of the company’s stock, valued at approximately $149,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glenn W. Reed acquired 5,000 shares of Old Republic International stock in a transaction on Tuesday, March 3rd. The shares were bought at an average price of $20.55 per share, with a total value of $102,750.00. Insiders have acquired 12,700 shares of company stock valued at $256,424 over the last 90 days. 1.90% of the stock is currently owned by company insiders.
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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