Public Employees Retirement System of Ohio Sells 577 Shares of Old Republic International Corporation $ORI

Public Employees Retirement System of Ohio lessened its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,386 shares of the insurance provider’s stock after selling 577 shares during the period. Public Employees Retirement System of Ohio’s holdings in Old Republic International were worth $2,936,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. HWG Holdings LP bought a new stake in shares of Old Republic International during the 1st quarter valued at $25,000. Quarry LP boosted its holdings in shares of Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock valued at $29,000 after buying an additional 731 shares in the last quarter. 1 North Wealth Services LLC bought a new stake in shares of Old Republic International during the 1st quarter valued at $29,000. Alpine Bank Wealth Management bought a new stake in shares of Old Republic International during the 1st quarter valued at $31,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Old Republic International during the 1st quarter valued at $34,000. Institutional investors own 70.92% of the company’s stock.

Old Republic International Price Performance

Shares of NYSE:ORI opened at $42.76 on Thursday. Old Republic International Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $42.87. The business has a 50-day simple moving average of $39.16 and a two-hundred day simple moving average of $38.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 14.64 and a beta of 0.76.

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

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.7%. Old Republic International’s payout ratio is 39.73%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wall Street Zen cut shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Piper Sandler lifted their price target 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. Finally, Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, Old Republic International has an average rating of “Strong Buy” and a consensus target price of $46.00.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the transaction, the senior vice president directly owned 35,755 shares in the company, valued at $1,305,772.60. This represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephen J. Oberst sold 4,797 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the transaction, the executive vice president owned 54,661 shares of the company’s stock, valued at $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

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.