Comerica Bank Buys 17,831 Shares of Old Republic International Co. (NYSE:ORI) (2024)

Posted by Defense World Staff on Aug 4th, 2024

Comerica Bank increased its position in Old Republic International Co. (NYSE:ORI – Free Report) by 12.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,211 shares of the insurance provider’s stock after acquiring an additional 17,831 shares during the quarter. Comerica Bank owned about 0.06% of Old Republic International worth $4,922,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Naples Money Management LLC purchased a new position in shares of Old Republic International during the 4th quarter valued at $34,000. GAMMA Investing LLC bought a new position in Old Republic International in the 4th quarter worth about $34,000. Blue Trust Inc. increased its stake in Old Republic International by 62.7% in the 4th quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 526 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Old Republic International by 526.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,321 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 1,110 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Old Republic International during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Up 0.4 %

ORI opened at $34.63 on Friday. The business’s fifty day simple moving average is $31.35 and its 200 day simple moving average is $30.26. Old Republic International Co. has a 52 week low of $26.08 and a 52 week high of $34.98. The company has a quick ratio of 0.27, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The stock has a market cap of $9.41 billion, a PE ratio of 13.47 and a beta of 0.83.

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

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th were issued a $0.265 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.06%. Old Republic International’s payout ratio is 41.25%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 26th.

Get Our Latest Stock Report on Old Republic International

Insider Activity

In other Old Republic International news, VP Thomas Dare sold 1,292 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $30.95, for a total value of $39,987.40. Following the completion of the sale, the vice president now directly owns 47,764 shares of the company’s stock, valued at $1,478,295.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Old Republic International news, VP Thomas Dare sold 1,292 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $30.95, for a total value of $39,987.40. Following the completion of the sale, the vice president now owns 47,764 shares in the company, valued at $1,478,295.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carolyn Monroe sold 4,503 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 33,556 shares in the company, valued at approximately $1,049,631.68. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

About Old Republic International

(Free Report)

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.

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