New York State Teachers Retirement System Sells 29,910 Shares of Old Republic International Corporation $ORI

New York State Teachers Retirement System decreased its position in Old Republic International Corporation (NYSE:ORI) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 240,837 shares of the insurance provider’s stock after selling 29,910 shares during the period. New York State Teachers Retirement System owned 0.10% of Old Republic International worth $9,609,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ORI. Jefferies Financial Group Inc. bought a new stake in Old Republic International during the fourth quarter worth $2,592,000. Oak Thistle LLC bought a new position in Old Republic International in the 4th quarter valued at $1,264,000. Wealth Enhancement Advisory Services LLC grew its stake in Old Republic International by 8.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 708,917 shares of the insurance provider’s stock valued at $30,159,000 after purchasing an additional 57,728 shares during the period. Gotham Asset Management LLC increased its position in shares of Old Republic International by 24.7% during the 3rd quarter. Gotham Asset Management LLC now owns 817,747 shares of the insurance provider’s stock valued at $34,730,000 after purchasing an additional 162,120 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Old Republic International during the 4th quarter valued at $2,157,000. Institutional investors own 70.92% of the company’s stock.

Insider Transactions at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the sale, the senior vice president directly owned 32,261 shares in the company, valued at approximately $1,250,436.36. The trade was a 29.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.32% of the company’s stock.

Old Republic International Stock Performance

NYSE:ORI traded up $0.66 during trading hours on Tuesday, reaching $42.23. The stock had a trading volume of 59,903 shares, compared to its average volume of 1,756,422. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a 50 day simple moving average of $39.28 and a 200 day simple moving average of $40.92. Old Republic International Corporation has a 12-month low of $35.60 and a 12-month high of $46.76. The stock has a market cap of $10.26 billion, a P/E ratio of 11.32 and a beta of 0.58.

Old Republic International (NYSE:ORI) last issued its 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 net margin of 10.83% and a return on equity of 15.71%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts forecast that Old Republic International Corporation will post 2.95 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were issued a $0.315 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.26 annualized dividend and a yield of 3.0%. Old Republic International’s dividend payout ratio (DPR) is 33.78%.

Analyst Upgrades and Downgrades

ORI has been the topic of a number of recent analyst reports. Weiss Ratings cut Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. Raymond James Financial set a $44.00 price target on shares of Old Republic International in a research report on Monday, April 27th. Piper Sandler raised their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Zacks Research raised shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.00.

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. 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.