VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 502,061 Old Republic International Corporation $ORI

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Old Republic International Corporation (NYSE:ORI) during the 2nd quarter, Holdings Channel reports. The firm acquired 502,061 shares of the insurance provider’s stock, valued at approximately $19,299,000.

Several other institutional investors have also recently made changes to their positions in the business. Martingale Asset Management L P lifted its stake in shares of Old Republic International by 3.4% in the 1st quarter. Martingale Asset Management L P now owns 8,241 shares of the insurance provider’s stock worth $323,000 after purchasing an additional 269 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Old Republic International by 0.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 91,880 shares of the insurance provider’s stock worth $3,532,000 after purchasing an additional 300 shares during the period. Atria Wealth Solutions Inc. lifted its stake in shares of Old Republic International by 3.6% in the 1st quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider’s stock worth $355,000 after purchasing an additional 314 shares during the period. Signet Financial Management LLC lifted its stake in shares of Old Republic International by 3.0% in the 2nd quarter. Signet Financial Management LLC now owns 11,135 shares of the insurance provider’s stock worth $428,000 after purchasing an additional 320 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of Old Republic International by 1.8% in the 1st quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider’s stock worth $747,000 after purchasing an additional 340 shares during the period. Institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Wall Street Zen cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings restated a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Finally, Piper Sandler raised their target price on shares of Old Republic International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average price target of $47.00.

Old Republic International Price Performance

NYSE ORI opened at $41.48 on Monday. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $44.00. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 14.21 and a beta of 0.76. The company’s 50 day moving average is $40.70 and its two-hundred day moving average is $38.49. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The business’s revenue was up 10.1% on a year-over-year basis. As a group, research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were given a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.8%. Old Republic International’s dividend payout ratio (DPR) is presently 39.73%.

Insider Activity

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

Old Republic International 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.