Old Republic International Corporation $ORI Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System raised its holdings in Old Republic International Corporation (NYSE:ORI) by 21.7% during the first quarter, Holdings Channel.com reports. The firm owned 274,831 shares of the insurance provider’s stock after purchasing an additional 48,956 shares during the quarter. California State Teachers Retirement System’s holdings in Old Republic International were worth $10,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in Old Republic International in the fourth quarter valued at $26,000. Torren Management LLC acquired a new position in shares of Old Republic International during the 4th quarter worth $27,000. Commonwealth Retirement Investments LLC acquired a new position in shares of Old Republic International during the 4th quarter worth $27,000. JPL Wealth Management LLC acquired a new position in shares of Old Republic International during the 3rd quarter worth $27,000. Finally, Quest 10 Wealth Builders Inc. purchased a new position in shares of Old Republic International in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Buying and Selling at Old Republic International

In related news, EVP Stephen J. Oberst sold 13,125 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total transaction of $576,975.00. Following the transaction, the executive vice president owned 82,205 shares of the company’s stock, valued at approximately $3,613,731.80. This represents a 13.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Carolyn Monroe sold 13,330 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the transaction, the senior vice president owned 32,261 shares of the company’s stock, valued at $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 40,530 shares of company stock worth $1,709,568. Corporate insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on ORI shares. Piper Sandler decreased their price objective on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Republic International in a research report on Wednesday, July 8th. Raymond James Financial set a $44.00 price target on Old Republic International in a research note on Monday, April 27th. Finally, Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, Old Republic International has a consensus rating of “Moderate Buy” and an average target price of $41.50.

Old Republic International Stock Performance

NYSE ORI opened at $43.33 on Tuesday. Old Republic International Corporation has a fifty-two week low of $36.01 and a fifty-two week high of $46.76. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 10.24 and a beta of 0.58. The business has a fifty day moving average of $40.35 and a 200-day moving average of $40.56. The company has a quick ratio of 0.23, a current ratio of 0.68 and a debt-to-equity ratio of 0.38.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.03). The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 earnings per share. As a group, analysts predict that Old Republic International Corporation will post 2.91 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, June 5th. Old Republic International’s dividend payout ratio is 29.79%.

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. 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.