New York State Teachers Retirement System Decreases Holdings in Old Republic International Corporation (NYSE:ORI)

New York State Teachers Retirement System trimmed its position in shares of Old Republic International Corporation (NYSE:ORI) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,876 shares of the insurance provider’s stock after selling 7,400 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Old Republic International worth $10,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthstar Advisors LLC bought a new position in Old Republic International in the first quarter valued at about $327,000. KBC Group NV increased its position in shares of Old Republic International by 10.8% during the 1st quarter. KBC Group NV now owns 10,224 shares of the insurance provider’s stock valued at $401,000 after purchasing an additional 996 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Old Republic International by 28.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 304,140 shares of the insurance provider’s stock worth $11,928,000 after purchasing an additional 67,971 shares during the period. Alpine Bank Wealth Management bought a new position in shares of Old Republic International in the 1st quarter worth approximately $31,000. Finally, Golden State Equity Partners boosted its holdings in shares of Old Republic International by 6.4% in the first quarter. Golden State Equity Partners now owns 19,442 shares of the insurance provider’s stock worth $763,000 after buying an additional 1,171 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Trading Up 4.2%

Shares of NYSE:ORI opened at $39.12 on Friday. The stock has a 50 day moving average of $37.67 and a 200 day moving average of $37.06. The company has a market cap of $9.67 billion, a PE ratio of 15.90 and a beta of 0.73. Old Republic International Corporation has a 12-month low of $29.83 and a 12-month high of $39.84. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.27.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.03 billion. Old Republic International had a net margin of 9.37% and a return on equity of 20.99%. Old Republic International’s revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, June 6th were paid a $0.29 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.16 dividend on an annualized basis and a yield of 2.97%. Old Republic International’s payout ratio is presently 47.15%.

Insider Buying and Selling

In other news, SVP Carolyn Monroe sold 10,601 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $37.38, for a total value of $396,265.38. Following the completion of the transaction, the senior vice president owned 35,755 shares of the company’s stock, valued at $1,336,521.90. This represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ORI. Raymond James Financial set a $42.00 target price on shares of Old Republic International and gave the company an “outperform” rating in a report on Monday, April 28th. Piper Sandler set a $42.00 price objective on Old Republic International in a research note on Friday, April 25th. Finally, Wall Street Zen raised Old Republic International from a “hold” rating to a “buy” rating in a report on Friday, June 27th.

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.