Old Republic International Co. (NYSE:ORI) Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its stake in shares of Old Republic International Co. (NYSE:ORI) by 32.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,919 shares of the insurance provider’s stock after purchasing an additional 11,083 shares during the quarter. Convergence Investment Partners LLC’s holdings in Old Republic International were worth $733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ORI. Citizens Financial Group Inc RI raised its stake in shares of Old Republic International by 34.1% during the 1st quarter. Citizens Financial Group Inc RI now owns 2,750 shares of the insurance provider’s stock worth $42,000 after buying an additional 700 shares in the last quarter. Total Clarity Wealth Management Inc. raised its stake in shares of Old Republic International by 3.7% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 22,316 shares of the insurance provider’s stock worth $364,000 after buying an additional 800 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Old Republic International by 0.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 196,053 shares of the insurance provider’s stock worth $2,990,000 after buying an additional 882 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Old Republic International by 10.3% during the 1st quarter. First Hawaiian Bank now owns 10,057 shares of the insurance provider’s stock worth $153,000 after buying an additional 940 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in shares of Old Republic International by 6.2% during the 1st quarter. Synovus Financial Corp now owns 19,374 shares of the insurance provider’s stock worth $292,000 after buying an additional 1,127 shares in the last quarter. 74.16% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on ORI. Zacks Investment Research raised Old Republic International from a “sell” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research note on Thursday, June 18th. ValuEngine downgraded Old Republic International from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Finally, Raymond James dropped their price objective on Old Republic International from $23.00 to $21.00 and set a “strong-buy” rating for the company in a research note on Monday, April 27th.

NYSE ORI traded down $0.19 during mid-day trading on Friday, hitting $16.07. The stock had a trading volume of 4,322,020 shares, compared to its average volume of 1,928,119. Old Republic International Co. has a 52-week low of $11.88 and a 52-week high of $24.10. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 8.59 and a beta of 0.86. The company has a 50 day simple moving average of $16.27 and a 200 day simple moving average of $17.79. The company has a quick ratio of 0.49, a current ratio of 1.21 and a debt-to-equity ratio of 0.17.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Old Republic International had a return on equity of 9.87% and a net margin of 4.26%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the business posted $0.45 EPS. Old Republic International’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Old Republic International Co. will post 1.7 earnings per share for the current fiscal year.

In related news, Director Aldo C. Zucaro bought 1,500 shares of the stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $18.22 per share, for a total transaction of $27,330.00. Following the acquisition, the director now owns 1,305,080 shares in the company, valued at $23,778,557.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aldo C. Zucaro bought 5,000 shares of the stock in a transaction on Monday, May 4th. The shares were bought at an average price of $14.99 per share, for a total transaction of $74,950.00. Following the acquisition, the director now owns 1,300,080 shares in the company, valued at approximately $19,488,199.20. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 12,900 shares of company stock worth $199,034. 1.90% of the stock is owned by insiders.

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

See Also: What is the Euro STOXX 50 Index?

Want to see what other hedge funds are holding ORI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Republic International Co. (NYSE:ORI).

Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

Receive News & Ratings for Old Republic International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Republic International and related companies with MarketBeat.com's FREE daily email newsletter.