California Public Employees Retirement System Sells 215,511 Shares of Old Republic International Corporation $ORI

California Public Employees Retirement System lowered its stake in shares of Old Republic International Corporation (NYSE:ORI) by 19.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 881,661 shares of the insurance provider’s stock after selling 215,511 shares during the quarter. California Public Employees Retirement System owned about 0.35% of Old Republic International worth $33,891,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Atria Wealth Solutions Inc. lifted its holdings in shares of Old Republic International by 3.6% during the first quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider’s stock worth $355,000 after buying an additional 314 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 4,286 shares during the period. Deutsche Bank AG raised its stake in Old Republic International by 1.3% during the 1st quarter. Deutsche Bank AG now owns 35,004 shares of the insurance provider’s stock valued at $1,373,000 after purchasing an additional 433 shares during the last quarter. Townsquare Capital LLC boosted its holdings in Old Republic International by 32.1% in the 1st quarter. Townsquare Capital LLC now owns 17,620 shares of the insurance provider’s stock valued at $691,000 after purchasing an additional 4,279 shares during the period. Finally, Invesco Ltd. boosted its holdings in Old Republic International by 7.3% in the 1st quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider’s stock valued at $98,891,000 after purchasing an additional 171,497 shares during the period. Institutional investors own 70.92% of the company’s stock.

Insider Activity

In related news, SVP Carolyn Monroe sold 6,680 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $44.54, for a total transaction of $297,527.20. Following the completion of the transaction, the senior vice president directly owned 29,075 shares in the company, valued at approximately $1,295,000.50. This trade represents a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Therace Risch acquired 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $39.14 per share, for a total transaction of $39,140.00. Following the transaction, the director owned 10,625 shares of the company’s stock, valued at $415,862.50. This represents a 10.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ORI. Weiss Ratings reiterated a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Finally, Piper Sandler lifted their price target on shares of Old Republic International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average price target of $49.00.

Old Republic International Stock Performance

Shares of Old Republic International stock opened at $43.62 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a 50 day simple moving average of $42.80 and a 200 day simple moving average of $39.90. Old Republic International Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $46.63. The firm has a market cap of $10.79 billion, a P/E ratio of 14.59 and a beta of 0.77.

Old Republic International (NYSE:ORI) last released its earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.28 billion. Sell-side analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, December 5th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, December 5th. Old Republic International’s dividend payout ratio (DPR) is presently 38.80%.

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.