Louisiana State Employees Retirement System Takes Position in Old Republic International Corporation $ORI

Louisiana State Employees Retirement System bought a new position in shares of Old Republic International Corporation (NYSE:ORI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 66,000 shares of the insurance provider’s stock, valued at approximately $2,633,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB boosted its holdings in Old Republic International by 28.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 222 shares during the period. Aptus Capital Advisors LLC raised its position in shares of Old Republic International by 5.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 5,421 shares of the insurance provider’s stock worth $247,000 after buying an additional 257 shares in the last quarter. Signet Financial Management LLC raised its position in shares of Old Republic International by 2.5% in the fourth quarter. Signet Financial Management LLC now owns 10,951 shares of the insurance provider’s stock worth $500,000 after buying an additional 263 shares in the last quarter. waypoint wealth counsel boosted its stake in Old Republic International by 3.3% during the fourth quarter. waypoint wealth counsel now owns 8,402 shares of the insurance provider’s stock valued at $383,000 after buying an additional 265 shares during the period. Finally, Mainsail Asset Management LLC boosted its stake in Old Republic International by 5.9% during the fourth quarter. Mainsail Asset Management LLC now owns 5,389 shares of the insurance provider’s stock valued at $246,000 after buying an additional 300 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was 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 owned 32,261 shares of the company’s stock, valued at $1,250,436.36. This represents a 29.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. Piper Sandler boosted their price objective on Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Zacks Research cut shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Raymond James Financial set a $44.00 target price on shares of Old Republic International in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Old Republic International Stock Down 0.2%

ORI opened at $41.16 on Monday. The business’s fifty day simple moving average is $39.33 and its 200 day simple moving average is $41.06. Old Republic International Corporation has a 52 week low of $35.60 and a 52 week high of $46.76. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. The stock has a market cap of $10.00 billion, a PE ratio of 11.04 and a beta of 0.60.

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

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a $0.315 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a yield of 3.1%. Old Republic International’s payout ratio is presently 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.