Bank of New York Mellon Corp Decreases Stake in Old Republic International Co. (NYSE:ORI)

Bank of New York Mellon Corp decreased its holdings in Old Republic International Co. (NYSE:ORI) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,146,637 shares of the insurance provider’s stock after selling 34,672 shares during the quarter. Bank of New York Mellon Corp owned about 1.16% of Old Republic International worth $97,231,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in shares of Old Republic International by 555.6% in the 2nd quarter. Versant Capital Management Inc now owns 885 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 750 shares during the period. Mather Group LLC. boosted its position in Old Republic International by 201.0% during the second quarter. Mather Group LLC. now owns 894 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 597 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Old Republic International in the fourth quarter valued at $34,000. Quarry LP purchased a new position in shares of Old Republic International in the fourth quarter valued at $39,000. Finally, Gladius Capital Management LP acquired a new position in shares of Old Republic International during the 4th quarter worth $41,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Old Republic International Price Performance

Old Republic International stock opened at $35.38 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $32.69 and its 200 day simple moving average is $31.00. Old Republic International Co. has a 52 week low of $26.08 and a 52 week high of $35.57. The firm has a market capitalization of $9.62 billion, a PE ratio of 13.77 and a beta of 0.83.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.15. Old Republic International had a net margin of 8.59% and a return on equity of 12.57%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, equities research analysts predict that Old Republic International Co. will post 2.83 EPS for the current fiscal year.

Old Republic International Announces Dividend

The business also recently declared an annual dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, September 6th will be given a dividend of $1.06 per share. This represents a yield of 3.05%. The ex-dividend date is Thursday, September 5th. Old Republic International’s payout ratio is 41.25%.

Insider Transactions at Old Republic International

In related news, SVP Carolyn Monroe sold 4,503 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $31.28, for a total transaction of $140,853.84. Following the sale, the senior vice president now owns 33,556 shares of the company’s stock, valued at $1,049,631.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

About Old Republic International

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.