Allianz Asset Management GmbH Sells 29,729 Shares of Old Republic International Corporation (ORI)

Allianz Asset Management GmbH trimmed its holdings in Old Republic International Corporation (NYSE:ORI) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,851,230 shares of the insurance provider’s stock after selling 29,729 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.08% of Old Republic International worth $56,141,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in Old Republic International by 28.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 31,601 shares of the insurance provider’s stock valued at $625,000 after buying an additional 7,086 shares during the last quarter. Brandes Investment Partners LP grew its position in Old Republic International by 7.3% in the 3rd quarter. Brandes Investment Partners LP now owns 440,546 shares of the insurance provider’s stock valued at $12,966,000 after buying an additional 29,880 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Old Republic International by 6.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,160,395 shares of the insurance provider’s stock valued at $22,849,000 after buying an additional 74,542 shares during the last quarter. Commonwealth Bank of Australia grew its position in Old Republic International by 93.3% in the 3rd quarter. Commonwealth Bank of Australia now owns 40,200 shares of the insurance provider’s stock valued at $789,000 after buying an additional 19,400 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Old Republic International by 2.8% in the 3rd quarter. Legal & General Group Plc now owns 1,213,460 shares of the insurance provider’s stock valued at $23,895,000 after buying an additional 33,231 shares during the last quarter. 70.67% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Karl W. Mueller sold 19,052 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $21.00, for a total value of $400,092.00. Following the sale, the chief financial officer now directly owns 5,331 shares in the company, valued at approximately $111,951. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Charles S. Boone sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $20.96, for a total transaction of $314,400.00. Following the completion of the sale, the vice president now owns 22,750 shares in the company, valued at $476,840. The disclosure for this sale can be found here. Insiders have sold a total of 81,552 shares of company stock worth $1,711,992 over the last 90 days. Insiders own 2.00% of the company’s stock.

Shares of Old Republic International Corporation (NYSE ORI) traded down $0.01 during midday trading on Thursday, hitting $20.70. 1,269,200 shares of the company’s stock traded hands, compared to its average volume of 1,344,919. The stock has a market cap of $5,463.44, a price-to-earnings ratio of 16.98 and a beta of 1.36. Old Republic International Corporation has a 52 week low of $17.92 and a 52 week high of $21.19. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.32.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, October 26th. The insurance provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. Old Republic International had a net margin of 6.45% and a return on equity of 7.50%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. equities research analysts forecast that Old Republic International Corporation will post 1.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, December 5th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 4th. This represents a $0.76 annualized dividend and a dividend yield of 3.67%. Old Republic International’s payout ratio is currently 55.47%.

Several equities research analysts have commented on ORI shares. Zacks Investment Research upgraded shares of Old Republic International from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $23.00 to $25.00 in a research report on Monday, October 30th.

TRADEMARK VIOLATION WARNING: “Allianz Asset Management GmbH Sells 29,729 Shares of Old Republic International Corporation (ORI)” was first reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.chaffeybreeze.com/2017/12/07/allianz-asset-management-gmbh-sells-29729-shares-of-old-republic-international-corporation-ori.html.

About Old Republic International

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.

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

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

Latest News

Leave a Reply