Old Republic International Corporation (NYSE:ORI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in Old Republic International Corporation (NYSE:ORI) by 42.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,542 shares of the insurance provider’s stock after selling 108,355 shares during the period. New York State Common Retirement Fund owned about 0.06% of Old Republic International worth $5,865,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Summit Financial LLC boosted its holdings in Old Republic International by 6.1% in the fourth quarter. Summit Financial LLC now owns 6,017 shares of the insurance provider’s stock valued at $218,000 after purchasing an additional 347 shares in the last quarter. Penbrook Management LLC boosted its holdings in shares of Old Republic International by 5.0% in the 1st quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider’s stock valued at $333,000 after buying an additional 400 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Old Republic International by 4.5% in the 4th quarter. Advisory Services Network LLC now owns 9,452 shares of the insurance provider’s stock valued at $342,000 after buying an additional 404 shares during the last quarter. Huntington National Bank raised its stake in Old Republic International by 34.8% during the 4th quarter. Huntington National Bank now owns 1,737 shares of the insurance provider’s stock worth $63,000 after acquiring an additional 448 shares in the last quarter. Finally, NDVR Inc. lifted its position in Old Republic International by 7.6% in the fourth quarter. NDVR Inc. now owns 7,516 shares of the insurance provider’s stock valued at $272,000 after acquiring an additional 534 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Price Performance

Shares of NYSE:ORI opened at $36.79 on Monday. Old Republic International Corporation has a one year low of $31.82 and a one year high of $39.84. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 14.96 and a beta of 0.73. The company has a 50-day simple moving average of $37.53 and a 200-day simple moving average of $37.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.24 and a current ratio of 0.24.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Old Republic International had a return on equity of 20.99% and a net margin of 9.37%. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, analysts predict that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were given a $0.29 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.16 dividend on an annualized basis and a yield of 3.15%. Old Republic International’s dividend payout ratio (DPR) is 47.15%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Raymond James Financial set a $42.00 price objective on Old Republic International and gave the stock an “outperform” rating in a report on Monday, April 28th. Piper Sandler set a $42.00 price target on Old Republic International in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 10,601 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total value of $396,265.38. Following the completion of the sale, the senior vice president owned 35,755 shares in the company, valued at approximately $1,336,521.90. This trade represents a 22.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.