Wedge Capital Management L L P NC increased its position in shares of Old Republic International Co. (NYSE:ORI – Get Rating) by 18.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,410 shares of the insurance provider's stock after buying an additional 1,933 shares during the period. Wedge Capital Management L L P NC's holdings in Old Republic International were worth $277,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its stake in Old Republic International by 4.6% during the first quarter. BlackRock Inc. now owns 31,752,672 shares of the insurance provider's stock worth $821,440,000 after buying an additional 1,382,209 shares during the last quarter. State Street Corp raised its stake in Old Republic International by 3.6% during the first quarter. State Street Corp now owns 23,255,544 shares of the insurance provider's stock worth $601,621,000 after buying an additional 808,670 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Old Republic International by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 7,250,205 shares of the insurance provider's stock worth $187,569,000 after buying an additional 46,499 shares during the last quarter. Hamlin Capital Management LLC raised its stake in Old Republic International by 1.1% during the first quarter. Hamlin Capital Management LLC now owns 5,043,033 shares of the insurance provider's stock worth $130,463,000 after buying an additional 55,475 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Old Republic International by 5.5% during the first quarter. Victory Capital Management Inc. now owns 4,762,107 shares of the insurance provider's stock worth $122,552,000 after buying an additional 250,247 shares during the last quarter. Institutional investors own 72.27% of the company's stock.
Get Old Republic International alerts:Old Republic International Trading Down 1.9 %
ORI opened at $21.56 on Thursday. Old Republic International Co. has a 1-year low of $20.93 and a 1-year high of $27.19. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.25. The company has a market cap of $6.65 billion, a P/E ratio of 6.70 and a beta of 0.81. The company has a fifty day moving average price of $22.73 and a two-hundred day moving average price of $23.34.
Old Republic International Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $1.23 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This is an increase from Old Republic International's previous quarterly dividend of $0.23. This represents a $4.92 annualized dividend and a dividend yield of 22.82%. Old Republic International's payout ratio is presently 28.57%.Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Old Republic International from a "hold" rating to a "buy" rating in a research note on Monday, August 1st.
About Old Republic International
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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, Title Insurance, and the Republic Financial Indemnity Group Run-off Business.
Further Reading
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