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 stake in Old Republic International Co. (NYSE:ORI) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,605 shares of the insurance provider’s stock after selling 11,846 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Old Republic International were worth $3,546,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. UBS Group AG lifted its position in Old Republic International by 1,208.9% during the third quarter. UBS Group AG now owns 1,511,315 shares of the insurance provider’s stock valued at $40,715,000 after buying an additional 1,395,849 shares in the last quarter. California Public Employees Retirement System lifted its position in Old Republic International by 174.1% during the fourth quarter. California Public Employees Retirement System now owns 1,380,617 shares of the insurance provider’s stock valued at $40,590,000 after buying an additional 876,872 shares in the last quarter. Invesco Ltd. lifted 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 valued at $60,966,000 after buying an additional 804,803 shares in the last quarter. Boston Financial Mangement LLC lifted its position in Old Republic International by 701.3% during the third quarter. Boston Financial Mangement LLC now owns 777,128 shares of the insurance provider’s stock valued at $20,936,000 after buying an additional 680,146 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Old Republic International by 669.5% during the third quarter. Qube Research & Technologies Ltd now owns 602,842 shares of the insurance provider’s stock valued at $16,241,000 after buying an additional 524,502 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Trading Up 0.4 %

NYSE ORI opened at $30.13 on Friday. The company’s fifty day simple moving average is $29.58 and its 200-day simple moving average is $28.90. Old Republic International Co. has a 52 week low of $24.03 and a 52 week high of $31.22. The company has a current ratio of 1.28, a quick ratio of 0.25 and a debt-to-equity ratio of 0.31. The stock has a market cap of $8.30 billion, a P/E ratio of 11.72 and a beta of 0.81.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, January 25th. The insurance provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.95 billion. Equities research analysts predict that Old Republic International Co. will post 2.7 EPS for the current fiscal year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were given a dividend of $0.265 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, March 8th. Old Republic International’s payout ratio is presently 41.25%.

Analysts Set New Price Targets

ORI has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday.

Insider Transactions at Old Republic International

In other news, Director Barbara Adachi bought 1,925 shares of Old Republic International stock in a transaction dated Friday, February 16th. The shares were acquired at an average cost of $28.60 per share, with a total value of $55,055.00. Following the completion of the transaction, 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 related news, Director Barbara Adachi purchased 1,925 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average price of $28.60 per share, for a total transaction of $55,055.00. Following the completion of the purchase, the director now owns 7,845 shares in the company, valued at $224,367. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Carolyn Monroe sold 6,528 shares of Old Republic International stock in a transaction 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 completion of the sale, the senior vice president now owns 35,340 shares of the company’s stock, valued at approximately $979,271.40. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.