Erste Asset Management GmbH Decreases Position in Old Republic International Co. (NYSE:ORI)

Erste Asset Management GmbH cut its stake in Old Republic International Co. (NYSE:ORI) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,400 shares of the insurance provider’s stock after selling 800 shares during the quarter. Erste Asset Management GmbH’s holdings in Old Republic International were worth $561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ORI. Raymond James Financial Inc. purchased a new position in Old Republic International in the 4th quarter valued at about $67,054,000. Point72 Asset Management L.P. lifted its stake in Old Republic International by 162.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 610,150 shares of the insurance provider’s stock valued at $21,612,000 after buying an additional 377,605 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Old Republic International in the 3rd quarter valued at about $7,965,000. Orca Wealth Management LLC purchased a new position in Old Republic International in the 4th quarter valued at about $5,209,000. Finally, Wealthfront Advisers LLC purchased a new position in Old Republic International in the 4th quarter valued at about $5,409,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Old Republic International Trading Up 2.2 %

ORI opened at $37.41 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The company’s 50 day simple moving average is $36.33 and its two-hundred day simple moving average is $36.24. Old Republic International Co. has a 1-year low of $28.59 and a 1-year high of $39.27. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 14.22 and a beta of 0.83.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Analysts expect that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s payout ratio is presently 44.11%.

Insider Activity at Old Republic International

In related news, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total value of $204,425.60. Following the completion of the sale, the chief executive officer now owns 138,222 shares in the company, valued at approximately $5,335,369.20. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas Dare sold 27,457 shares of Old Republic International stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the sale, the vice president now owns 46,556 shares of the company’s stock, valued at $1,699,294. This trade represents a 37.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,039 shares of company stock worth $1,580,733. Insiders own 0.78% of the company’s stock.

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. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.