Cubist Systematic Strategies LLC Buys Shares of 20,182 Old Republic International Corporation (ORI)

  • Old Republic International
  • 03/11/2017
Cubist Systematic Strategies LLC bought a new position in Old Republic International Corporation (NYSE:ORI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,182 shares of the insurance providers stock, valued at approximately $394,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Old Republic International Corporation by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 21,094,198 shares of the insurance providers stock worth $411,970,000 after buying an additional 233,650 shares during the period. Dimensional Fund Advisors LP increased its position in Old Republic International Corporation by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,034,650 shares of the insurance providers stock valued at $137,392,000 after purchasing an additional 64,292 shares during the period. Renaissance Technologies LLC increased its position in Old Republic International Corporation by 13.6% during the 2nd quarter. Renaissance Technologies LLC now owns 6,825,385 shares of the insurance providers stock valued at $133,300,000 after purchasing an additional 815,600 shares during the period. Prudential Financial Inc. increased its position in Old Republic International Corporation by 1.3% during the 2nd quarter. Prudential Financial Inc. now owns 2,317,246 shares of the insurance providers stock valued at $45,256,000 after purchasing an additional 29,760 shares during the period. Finally, Geode Capital Management LLC increased its position in Old Republic International Corporation by 9.6% during the 1st quarter. Geode Capital Management LLC now owns 2,207,338 shares of the insurance providers stock valued at $45,206,000 after purchasing an additional 193,581 shares during the period. Hedge funds and other institutional investors own 71.23% of the companys stock.

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Old Republic International Corporation (NYSE:ORI) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.09 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.06. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion. Old Republic International Corporation had a return on equity of 7.50% and a net margin of 6.45%. The companys revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share.

A number of research firms have recently weighed in on ORI. Zacks Investment Research cut shares of Old Republic International Corporation from a hold rating to a sell rating in a report on Wednesday, August 2nd. Raymond James Financial, Inc. upgraded shares of Old Republic International Corporation from an outperform rating to a strong-buy rating and raised their price target for the company from $23.00 to $25.00 in a report on Monday. Finally, BidaskClub cut shares of Old Republic International Corporation from a sell rating to a strong sell rating in a research note on Sunday, July 16th.

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.

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