Public Employees Retirement System of Ohio Invests $2.85 Million in Old Republic International Corporation $ORI

Public Employees Retirement System of Ohio purchased a new stake in Old Republic International Corporation (NYSE:ORI) in the second quarter, HoldingsChannel reports. The firm purchased 69,762 shares of the insurance provider’s stock, valued at approximately $2,855,000.

Several other institutional investors have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB increased its stake in Old Republic International by 28.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 222 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of Old Republic International by 5.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 5,421 shares of the insurance provider’s stock valued at $247,000 after acquiring an additional 257 shares during the period. Waverly Advisors LLC lifted its position in shares of Old Republic International by 2.3% during the 1st quarter. Waverly Advisors LLC now owns 12,760 shares of the insurance provider’s stock valued at $509,000 after acquiring an additional 288 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Old Republic International by 1.1% during the 1st quarter. Pacer Advisors Inc. now owns 27,033 shares of the insurance provider’s stock worth $1,079,000 after purchasing an additional 293 shares in the last quarter. Finally, Mainsail Asset Management LLC grew its holdings in shares of Old Republic International by 5.9% during the 4th quarter. Mainsail Asset Management LLC now owns 5,389 shares of the insurance provider’s stock worth $246,000 after purchasing an additional 300 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ORI shares. Piper Sandler dropped their price target on Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. Weiss Ratings raised shares of Old Republic International from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. Finally, Zacks Research raised shares of Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Old Republic International currently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Old Republic International Stock Down 2.8%

Shares of NYSE:ORI opened at $41.37 on Friday. The company has a fifty day moving average of $42.21 and a 200-day moving average of $40.79. The company has a market capitalization of $9.99 billion, a PE ratio of 9.78 and a beta of 0.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.30 and a current ratio of 0.30. Old Republic International Corporation has a 52-week low of $36.65 and a 52-week high of $46.76.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share. On average, equities analysts predict that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 4th. Old Republic International’s dividend payout ratio (DPR) is presently 29.79%.

Insider Activity

In related news, SVP Carolyn Monroe sold 4,386 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $42.01, for a total value of $184,255.86. Following the completion of the transaction, the senior vice president owned 27,875 shares in the company, valued at $1,171,028.75. This trade represents a 13.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen J. Oberst sold 13,125 shares of Old Republic International stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $43.96, for a total transaction of $576,975.00. Following the sale, the executive vice president owned 82,205 shares in the company, valued at approximately $3,613,731.80. This represents a 13.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 33,374 shares of company stock valued at $1,452,714. 1.32% of the stock is currently owned by corporate 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. 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.