Illinois Municipal Retirement Fund Buys 25,653 Shares of Old Republic International Corporation $ORI

Illinois Municipal Retirement Fund increased its stake in Old Republic International Corporation (NYSE:ORI) by 28.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 115,340 shares of the insurance provider’s stock after buying an additional 25,653 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Old Republic International were worth $4,898,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Core Alternative Capital bought a new stake in Old Republic International in the third quarter worth $42,000. Caldwell Trust Co boosted its stake in Old Republic International by 75.0% in the 3rd quarter. Caldwell Trust Co now owns 1,050 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 450 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in Old Republic International by 37.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,101 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 298 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Old Republic International during the 2nd quarter valued at about $46,000. Finally, SBI Securities Co. Ltd. increased its stake in Old Republic International by 29.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 274 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

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

Old Republic International Trading Down 0.1%

Shares of ORI stock opened at $42.59 on Friday. 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 fifty day simple moving average of $43.03 and a two-hundred day simple moving average of $41.78. The firm has a market capitalization of $10.54 billion, a PE ratio of 12.56 and a beta of 0.75. 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 released its quarterly earnings data on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the company earned $0.90 EPS. On average, analysts predict that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, January 2nd were issued a dividend of $2.50 per share. The ex-dividend date of this dividend was Friday, January 2nd. Old Republic International’s dividend payout ratio (DPR) is 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.