Old Republic International Co. (NYSE:ORI) Position Lowered by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in Old Republic International Co. (NYSE:ORI) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,878 shares of the insurance provider’s stock after selling 3,200 shares during the quarter. State of Michigan Retirement System’s holdings in Old Republic International were worth $1,881,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in Old Republic International by 23.0% in the first quarter. Covestor Ltd now owns 1,937 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 362 shares during the period. EP Wealth Advisors LLC lifted its holdings in Old Republic International by 5.2% in the first quarter. EP Wealth Advisors LLC now owns 7,762 shares of the insurance provider’s stock worth $238,000 after acquiring an additional 387 shares during the last quarter. Moloney Securities Asset Management LLC boosted its stake in Old Republic International by 3.3% in the first quarter. Moloney Securities Asset Management LLC now owns 14,216 shares of the insurance provider’s stock valued at $437,000 after acquiring an additional 452 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in shares of Old Republic International by 5.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 8,424 shares of the insurance provider’s stock valued at $248,000 after purchasing an additional 465 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Old Republic International by 3.7% in the 1st quarter. UMB Bank n.a. now owns 15,185 shares of the insurance provider’s stock worth $466,000 after purchasing an additional 538 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Activity

In related news, SVP Carolyn Monroe sold 4,503 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $31.28, for a total value of $140,853.84. Following the completion of the transaction, the senior vice president now owns 33,556 shares in the company, valued at approximately $1,049,631.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Old Republic International Price Performance

Shares of ORI opened at $35.38 on Thursday. The company has a market cap of $9.62 billion, a P/E ratio of 13.77 and a beta of 0.83. The stock has a fifty day moving average price of $32.69 and a 200 day moving average price of $31.00. Old Republic International Co. has a 12 month low of $26.08 and a 12 month high of $35.57. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.29 and a quick ratio of 0.29.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.15. Old Republic International had a return on equity of 12.57% and a net margin of 8.59%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. On average, research analysts forecast that Old Republic International Co. will post 2.83 earnings per share for the current year.

Old Republic International Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, September 6th will be paid a $1.06 dividend. The ex-dividend date is Thursday, September 5th. This represents a dividend yield of 3.05%. Old Republic International’s payout ratio is 41.25%.

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