New York State Teachers Retirement System Sells 29,910 Shares of Old Republic International Corporation $ORI

New York State Teachers Retirement System trimmed its holdings in Old Republic International Corporation (NYSE:ORI) by 11.0% in the first quarter, Holdings Channel reports. The institutional investor owned 240,837 shares of the insurance provider’s stock after selling 29,910 shares during the quarter. New York State Teachers Retirement System’s holdings in Old Republic International were worth $9,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jefferies Financial Group Inc. purchased a new position in shares of Old Republic International in the fourth quarter valued at $2,592,000. Oak Thistle LLC purchased a new stake in Old Republic International during the 4th quarter worth about $1,264,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Old Republic International by 8.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 708,917 shares of the insurance provider’s stock worth $30,159,000 after purchasing an additional 57,728 shares in the last quarter. Gotham Asset Management LLC boosted its stake in Old Republic International by 24.7% in the 3rd quarter. Gotham Asset Management LLC now owns 817,747 shares of the insurance provider’s stock worth $34,730,000 after purchasing an additional 162,120 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Old Republic International in the 4th quarter worth about $2,157,000. Institutional investors own 70.92% of the company’s stock.

Analyst Ratings Changes

ORI has been the subject of a number of recent analyst reports. Raymond James Financial set a $44.00 target price on Old Republic International in a report on Monday, April 27th. Piper Sandler boosted their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Zacks Research raised shares of Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Finally, Weiss Ratings cut shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Old Republic International has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 13,330 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the sale, the senior vice president directly owned 32,261 shares in the company, valued at approximately $1,250,436.36. The trade was a 29.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.32% of the company’s stock.

Old Republic International Price Performance

Shares of Old Republic International stock traded up $0.66 during trading on Tuesday, hitting $42.23. 59,903 shares of the stock traded hands, compared to its average volume of 1,756,422. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 11.32 and a beta of 0.58. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. Old Republic International Corporation has a 52 week low of $35.60 and a 52 week high of $46.76. The firm’s fifty day moving average is $39.28 and its 200-day moving average is $40.92.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. Research analysts expect that Old Republic International Corporation will post 2.95 EPS for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.26 annualized dividend and a dividend yield of 3.0%. Old Republic International’s dividend payout ratio (DPR) is 33.78%.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.