Illinois Municipal Retirement Fund Increases Stake in Old Republic International Corporation $ORI

Illinois Municipal Retirement Fund raised its stake in Old Republic International Corporation (NYSE:ORI) by 28.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 115,340 shares of the insurance provider’s stock after purchasing an additional 25,653 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Old Republic International were worth $4,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ORI. Thrivent Financial for Lutherans raised its holdings in Old Republic International by 2,840.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock valued at $166,763,000 after buying an additional 3,793,085 shares during the last quarter. Norges Bank bought a new stake in Old Republic International in the 2nd quarter worth $115,071,000. AQR Capital Management LLC increased its position in shares of Old Republic International by 55.7% in the second quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after acquiring an additional 2,066,965 shares during the period. LSV Asset Management raised its stake in shares of Old Republic International by 43.7% during the second quarter. LSV Asset Management now owns 2,702,316 shares of the insurance provider’s stock valued at $103,877,000 after acquiring an additional 821,975 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Old Republic International during the second quarter valued at about $27,289,000. Institutional investors own 70.92% of the company’s stock.

Insider Activity

In related news, SVP Carolyn Monroe sold 5,526 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the completion of the transaction, the senior vice president directly owned 27,875 shares in the company, valued at $1,094,930. This trade represents a 16.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ORI. Zacks Research cut Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “buy (a)” rating on shares of Old Republic International in a research report on Wednesday, December 24th. Finally, Piper Sandler reissued a “neutral” rating and set a $38.00 target price (down from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Old Republic International currently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Old Republic International Stock Down 0.1%

Shares of NYSE:ORI opened at $42.59 on Friday. The firm has a market capitalization of $10.54 billion, a P/E ratio of 12.56 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.26 and a current ratio of 0.64. The stock has a 50 day moving average price of $43.03 and a 200-day moving average price of $41.78. Old Republic International Corporation has a 52-week low of $34.43 and a 52-week high of $46.76.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same period in the previous year, the company earned $0.90 earnings per share. As a group, equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd were given a $2.50 dividend. The ex-dividend date of this dividend was Friday, January 2nd. Old Republic International’s dividend payout ratio is currently 34.22%.

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.