Strs Ohio Takes Position in Old Republic International Corporation $ORI

Strs Ohio purchased a new stake in Old Republic International Corporation (NYSE:ORI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 80,189 shares of the insurance provider’s stock, valued at approximately $3,145,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Martingale Asset Management L P lifted its holdings in Old Republic International by 3.4% during the 1st quarter. Martingale Asset Management L P now owns 8,241 shares of the insurance provider’s stock worth $323,000 after buying an additional 269 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in Old Republic International by 3.6% during the 1st quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider’s stock worth $355,000 after buying an additional 314 shares during the period. Venturi Wealth Management LLC lifted its holdings in Old Republic International by 1.8% during the 1st quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider’s stock worth $747,000 after buying an additional 340 shares during the period. Penbrook Management LLC lifted its holdings in Old Republic International by 5.0% during the 1st quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider’s stock worth $333,000 after buying an additional 400 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Old Republic International by 1.3% during the 1st quarter. Deutsche Bank AG now owns 35,004 shares of the insurance provider’s stock worth $1,373,000 after buying an additional 433 shares during the period. Institutional investors own 70.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ORI. Wall Street Zen lowered Old Republic International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Piper Sandler lifted their price objective on Old Republic International from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $43.50.

Insider Buying and Selling at Old Republic International

In other news, Director Therace Risch acquired 1,500 shares of Old Republic International stock in a transaction that occurred on Tuesday, September 2nd. The stock was purchased at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the purchase, the director directly owned 9,625 shares in the company, valued at $384,037.50. The trade was a 18.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the transaction, the executive vice president owned 54,661 shares in the company, valued at $2,147,630.69. The trade was a 8.07% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Old Republic International Trading Down 1.0%

Shares of ORI stock opened at $39.88 on Tuesday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $41.15. The firm’s 50 day moving average is $38.16 and its 200 day moving average is $37.83. The stock has a market capitalization of $9.91 billion, a P/E ratio of 13.66 and a beta of 0.78.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Research analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, September 5th. Old Republic International’s dividend payout ratio is presently 39.73%.

Old Republic International Company Profile

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.