Old Republic International Co. (NYSE:ORI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of Old Republic International Co. (NYSE:ORI) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,605 shares of the insurance provider’s stock after selling 11,846 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Old Republic International were worth $3,546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Northern Trust Corp boosted its position in Old Republic International by 13.1% during the third quarter. Northern Trust Corp now owns 2,460,669 shares of the insurance provider’s stock worth $66,290,000 after acquiring an additional 284,491 shares during the last quarter. Invesco Ltd. boosted its position in Old Republic International by 55.2% during the third quarter. Invesco Ltd. now owns 2,263,038 shares of the insurance provider’s stock worth $60,966,000 after acquiring an additional 804,803 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Old Republic International by 3.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,812,451 shares of the insurance provider’s stock valued at $48,827,000 after purchasing an additional 58,008 shares during the last quarter. LSV Asset Management boosted its holdings in Old Republic International by 44.3% in the 3rd quarter. LSV Asset Management now owns 1,526,990 shares of the insurance provider’s stock valued at $41,137,000 after purchasing an additional 469,000 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Old Republic International by 1,208.9% in the 3rd quarter. UBS Group AG now owns 1,511,315 shares of the insurance provider’s stock valued at $40,715,000 after purchasing an additional 1,395,849 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Old Republic International

In related news, Director Barbara Adachi acquired 1,925 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were purchased at an average cost of $28.60 per share, for a total transaction of $55,055.00. Following the acquisition, the director now owns 7,845 shares in the company, valued at approximately $224,367. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Old Republic International news, Director Barbara Adachi bought 1,925 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average cost of $28.60 per share, with a total value of $55,055.00. Following the purchase, the director now directly owns 7,845 shares in the company, valued at $224,367. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carolyn Monroe sold 6,528 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $27.71, for a total transaction of $180,890.88. Following the sale, the senior vice president now directly owns 35,340 shares in the company, valued at $979,271.40. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ORI shares. StockNews.com upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler boosted their target price on shares of Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 1st.

Old Republic International Stock Performance

NYSE:ORI opened at $30.13 on Friday. The company’s 50-day moving average is $29.58 and its two-hundred day moving average is $28.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.28 and a quick ratio of 0.25. Old Republic International Co. has a 1-year low of $24.03 and a 1-year high of $31.22. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 11.72 and a beta of 0.81.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 25th. The insurance provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.03). Old Republic International had a return on equity of 12.15% and a net margin of 9.52%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. Analysts forecast that Old Republic International Co. will post 2.7 EPS for the current year.

Old Republic International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were issued a $0.265 dividend. This is a positive change from Old Republic International’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, March 8th. Old Republic International’s dividend payout ratio is currently 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.