Bessemer Group Inc. Takes $145,000 Position in Old Republic International Co. (ORI)
Bessemer Group Inc. acquired a new stake in Old Republic International Co. (NYSE:ORI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,786 shares of the insurance provider’s stock, valued at approximately $145,000.
Several other large investors also recently modified their holdings of ORI. APG Asset Management N.V. lifted its position in shares of Old Republic International by 299.3% in the fourth quarter. APG Asset Management N.V. now owns 1,050,986 shares of the insurance provider’s stock valued at $18,713,000 after acquiring an additional 787,786 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Old Republic International during the fourth quarter worth about $16,657,000. Janus Henderson Group PLC purchased a new position in Old Republic International during the second quarter worth about $7,344,000. Capital Returns Management LLC lifted its position in Old Republic International by 37.1% during the third quarter. Capital Returns Management LLC now owns 1,311,393 shares of the insurance provider’s stock worth $25,821,000 after buying an additional 354,975 shares during the period. Finally, Bank of Montreal Can lifted its position in Old Republic International by 378.7% during the fourth quarter. Bank of Montreal Can now owns 360,418 shares of the insurance provider’s stock worth $7,705,000 after buying an additional 285,130 shares during the period. Institutional investors and hedge funds own 71.13% of the company’s stock.
ORI has been the topic of several recent analyst reports. Zacks Investment Research upgraded Old Republic International from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, January 24th. Raymond James Financial upgraded Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $23.00 to $25.00 in a research report on Monday, October 30th. Finally, JMP Securities upgraded Old Republic International from a “market perform” rating to an “outperform” rating in a research report on Monday.
Old Republic International (NYSE:ORI) last released its earnings results on Thursday, January 25th. The insurance provider reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.05. Old Republic International had a return on equity of 6.80% and a net margin of 8.95%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. analysts predict that Old Republic International Co. will post 1.7 EPS for the current fiscal year.
The firm also recently announced a None dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th were given a dividend of $1.00 per share. The ex-dividend date was Tuesday, January 9th. Old Republic International’s dividend payout ratio (DPR) is presently 39.79%.
In other Old Republic International news, CFO Karl W. Mueller sold 19,052 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $21.00, for a total transaction of $400,092.00. Following the completion of the sale, the chief financial officer now directly owns 5,331 shares in the company, valued at $111,951. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO R Scott Rager sold 47,500 shares of the company’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 sale, the chief operating officer now owns 40,000 shares of the company’s stock, valued at $840,000. The disclosure for this sale can be found here. Insiders have sold 81,552 shares of company stock worth $1,711,992 over the last quarter. 2.00% of the stock is currently owned by company insiders.
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Old Republic International 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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