Retirement Systems of Alabama Has $22.28 Million Stake in Old Republic International Corporation $ORI

Retirement Systems of Alabama trimmed its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 579,622 shares of the insurance provider’s stock after selling 5,999 shares during the quarter. Retirement Systems of Alabama owned about 0.23% of Old Republic International worth $22,281,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Old Republic International by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider’s stock worth $114,453,000 after buying an additional 100,264 shares during the last quarter. Brandywine Global Investment Management LLC increased its position in Old Republic International by 15.9% during the first quarter. Brandywine Global Investment Management LLC now owns 635,855 shares of the insurance provider’s stock worth $24,938,000 after buying an additional 87,398 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Old Republic International by 7.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,533,958 shares of the insurance provider’s stock worth $60,162,000 after buying an additional 108,711 shares during the last quarter. Genus Capital Management Inc. acquired a new position in Old Republic International during the first quarter worth $2,781,000. Finally, Kovitz Investment Group Partners LLC increased its position in Old Republic International by 83.2% during the first quarter. Kovitz Investment Group Partners LLC now owns 22,702 shares of the insurance provider’s stock worth $890,000 after buying an additional 10,312 shares during the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Wall Street Zen downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Finally, Piper Sandler lowered their price target on Old Republic International from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the company currently has an average rating of “Strong Buy” and an average target price of $46.50.

Old Republic International Stock Up 0.4%

NYSE ORI opened at $39.47 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.25 and a current ratio of 0.64. The firm has a 50-day simple moving average of $41.04 and a 200 day simple moving average of $38.75. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $44.00. The stock has a market cap of $9.81 billion, a PE ratio of 13.20 and a beta of 0.76.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, October 23rd. The insurance provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.38. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.28 billion. On average, research analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, September 5th. Old Republic International’s dividend payout ratio (DPR) is presently 38.80%.

Insider Activity

In related news, Director Therace Risch bought 1,500 shares of Old Republic International stock in a transaction that occurred on Tuesday, September 2nd. The stock was acquired at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the purchase, the director owned 9,625 shares in the company, valued at approximately $384,037.50. This represents a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the sale, the executive vice president owned 54,661 shares of the company’s stock, valued at approximately $2,147,630.69. The trade was a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company 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.