Maryland State Retirement & Pension System Cuts Stock Position in Old Republic International Corporation (NYSE:ORI)

Maryland State Retirement & Pension System cut its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,046 shares of the insurance provider’s stock after selling 1,572 shares during the period. Maryland State Retirement & Pension System’s holdings in Old Republic International were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Northern Trust Corp increased its stake in Old Republic International by 14.4% during the fourth quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider’s stock worth $114,940,000 after purchasing an additional 400,384 shares during the period. Bank of New York Mellon Corp increased its stake in Old Republic International by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider’s stock worth $114,453,000 after purchasing an additional 100,264 shares during the period. AQR Capital Management LLC increased its stake in Old Republic International by 2.7% during the fourth quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider’s stock worth $68,219,000 after purchasing an additional 49,160 shares during the period. LSV Asset Management increased its stake in Old Republic International by 12.9% during the first quarter. LSV Asset Management now owns 1,880,341 shares of the insurance provider’s stock worth $73,747,000 after purchasing an additional 214,634 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Old Republic International by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,695,466 shares of the insurance provider’s stock worth $66,496,000 after purchasing an additional 4,286 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

Shares of Old Republic International stock opened at $38.66 on Friday. Old Republic International Corporation has a one year low of $33.00 and a one year high of $39.84. The company has a market cap of $9.61 billion, a PE ratio of 13.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25. The business has a 50-day simple moving average of $37.19 and a 200-day simple moving average of $37.35.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.0%. Old Republic International’s dividend payout ratio (DPR) is 39.73%.

Wall Street Analysts Forecast Growth

ORI has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Piper Sandler lowered their price objective on Old Republic International from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, July 25th. Finally, Raymond James Financial set a $42.00 price objective on Old Republic International and gave the stock an “outperform” rating in a research report on Monday, April 28th.

Insider Transactions at Old Republic International

In related news, SVP Carolyn Monroe sold 6,849 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the transaction, the senior vice president directly owned 35,755 shares of the company’s stock, valued at $1,305,772.60. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

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.