Garner Asset Management Corp Grows Position in Old Republic International Co. (NYSE:ORI)

Garner Asset Management Corp raised its holdings in shares of Old Republic International Co. (NYSE:ORI) by 16.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 28,829 shares of the insurance provider’s stock after purchasing an additional 4,002 shares during the period. Garner Asset Management Corp’s holdings in Old Republic International were worth $891,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC bought a new position in Old Republic International in the fourth quarter worth approximately $980,000. Nordea Investment Management AB raised its position in shares of Old Republic International by 26.4% in the 1st quarter. Nordea Investment Management AB now owns 551,744 shares of the insurance provider’s stock worth $17,032,000 after acquiring an additional 115,324 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Old Republic International by 9.6% during the 1st quarter. First Eagle Investment Management LLC now owns 419,685 shares of the insurance provider’s stock worth $12,893,000 after purchasing an additional 36,700 shares during the last quarter. Retirement Systems of Alabama grew its stake in Old Republic International by 4.7% in the first quarter. Retirement Systems of Alabama now owns 655,137 shares of the insurance provider’s stock valued at $20,126,000 after purchasing an additional 29,159 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new position in Old Republic International in the fourth quarter worth about $5,876,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Performance

ORI stock opened at $35.51 on Thursday. The firm has a 50-day simple moving average of $34.13 and a two-hundred day simple moving average of $31.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 0.29. Old Republic International Co. has a one year low of $26.08 and a one year high of $36.09. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 13.82 and a beta of 0.84.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.15. Old Republic International had a return on equity of 12.57% and a net margin of 8.59%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the firm earned $0.62 EPS. On average, equities analysts forecast 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 was paid on Monday, September 16th. Shareholders of record on Friday, September 6th were paid a dividend of $1.06 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a yield of 3.05%. Old Republic International’s payout ratio is 41.25%.

Old Republic International Company 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.