Lincoln Capital Corp Increases Stake in Old Republic International Co. (NYSE:ORI)

Lincoln Capital Corp boosted its stake in Old Republic International Co. (NYSE:ORI) by 4.2% during the third quarter, Holdings Channel.com reports. The firm owned 99,041 shares of the insurance provider’s stock after buying an additional 3,997 shares during the period. Old Republic International accounts for about 2.0% of Lincoln Capital Corp’s portfolio, making the stock its 19th largest position. Lincoln Capital Corp’s holdings in Old Republic International were worth $2,334,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Rockland Trust Co. boosted its position in Old Republic International by 6.8% during the second quarter. Rockland Trust Co. now owns 67,647 shares of the insurance provider’s stock worth $1,514,000 after purchasing an additional 4,282 shares during the period. WINTON GROUP Ltd boosted its position in Old Republic International by 320.4% during the second quarter. WINTON GROUP Ltd now owns 51,201 shares of the insurance provider’s stock worth $1,146,000 after purchasing an additional 39,022 shares during the period. Naples Global Advisors LLC boosted its position in Old Republic International by 5.6% during the second quarter. Naples Global Advisors LLC now owns 46,279 shares of the insurance provider’s stock worth $1,036,000 after purchasing an additional 2,450 shares during the period. Nachman Norwood & Parrott Inc bought a new position in Old Republic International during the second quarter worth $1,918,000. Finally, Ridgewood Investments LLC boosted its position in Old Republic International by 4.9% during the second quarter. Ridgewood Investments LLC now owns 17,894 shares of the insurance provider’s stock worth $400,000 after purchasing an additional 841 shares during the period. 75.02% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on ORI. Raymond James reduced their price objective on shares of Old Republic International from $27.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Friday, October 25th. Zacks Investment Research cut shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 16th. Finally, ValuEngine raised shares of Old Republic International from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the stock. Old Republic International currently has a consensus rating of “Hold” and an average target price of $25.00.

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In other news, CFO Karl W. Mueller sold 20,760 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $23.25, for a total value of $482,670.00. Following the completion of the sale, the chief financial officer now owns 52,539 shares of the company’s stock, valued at $1,221,531.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Cheryl A. Jones sold 3,250 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $22.85, for a total transaction of $74,262.50. Following the completion of the sale, the vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $245,363.30. The disclosure for this sale can be found here. In the last three months, insiders bought 600 shares of company stock valued at $13,516 and sold 109,510 shares valued at $2,566,383. Insiders own 1.90% of the company’s stock.

ORI stock traded up $0.11 during midday trading on Friday, reaching $22.80. 691,534 shares of the company were exchanged, compared to its average volume of 1,470,811. The business has a 50-day moving average price of $23.12 and a two-hundred day moving average price of $22.71. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 12.26 and a beta of 0.75. Old Republic International Co. has a one year low of $19.55 and a one year high of $24.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.49 and a quick ratio of 0.48.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, October 24th. The insurance provider reported $0.51 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.51. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Old Republic International had a net margin of 10.27% and a return on equity of 9.76%. Old Republic International’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. As a group, analysts anticipate that Old Republic International Co. will post 1.75 earnings per share for the current fiscal year.

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.

Further Reading: Quantitative Easing

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

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