California Public Employees Retirement System Sells 52,298 Shares of Old Republic International Corporation $ORI

California Public Employees Retirement System decreased its holdings in Old Republic International Corporation (NYSE:ORI) by 8.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 578,333 shares of the insurance provider’s stock after selling 52,298 shares during the period. California Public Employees Retirement System’s holdings in Old Republic International were worth $23,075,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Old Republic International by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider’s stock valued at $477,000 after purchasing an additional 2,867 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Old Republic International by 121.9% in the 1st quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider’s stock valued at $944,000 after purchasing an additional 13,224 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Old Republic International by 122.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider’s stock worth $178,000 after buying an additional 2,493 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Old Republic International by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider’s stock worth $62,480,000 after buying an additional 148,891 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its position in shares of Old Republic International by 31.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider’s stock worth $323,000 after buying an additional 2,028 shares during the period. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Trading Down 0.8%

Shares of ORI opened at $41.63 on Thursday. The stock has a fifty day moving average price of $39.76 and a two-hundred day moving average price of $40.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.23 and a current ratio of 0.23. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 11.16 and a beta of 0.58. Old Republic International Corporation has a 52-week low of $35.60 and a 52-week high of $46.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Analysts predict that Old Republic International Corporation will post 2.95 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, June 5th. Old Republic International’s dividend payout ratio (DPR) is presently 33.78%.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of the business’s stock in a transaction dated 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 directly owned 32,261 shares of the company’s stock, valued at approximately $1,250,436.36. The trade was a 29.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

ORI has been the topic of a number of analyst reports. Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Piper Sandler boosted their target price on shares of Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Republic International in a report on Wednesday, July 8th. Finally, Raymond James Financial set a $44.00 target price on shares of Old Republic International in a research report on Monday, April 27th. One 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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.