Louisiana State Employees Retirement System Takes Position in Old Republic International Corporation $ORI

Louisiana State Employees Retirement System bought a new position in shares of Old Republic International Corporation (NYSE:ORI) during the first quarter, according to its most recent filing with the SEC. The fund bought 66,000 shares of the insurance provider’s stock, valued at approximately $2,633,000.

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

Old Republic International Stock Performance

Shares of ORI stock opened at $41.16 on Monday. The stock has a market capitalization of $10.00 billion, a P/E ratio of 11.04 and a beta of 0.60. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $39.33 and its 200 day moving average is $41.06. Old Republic International Corporation has a 12 month low of $35.60 and a 12 month high of $46.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that Old Republic International Corporation will post 2.95 earnings per share for the current year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, June 5th. Old Republic International’s dividend payout ratio (DPR) is presently 33.78%.

Analysts Set New Price Targets

Several brokerages have weighed in on ORI. Raymond James Financial set a $44.00 price objective on Old Republic International in a report on Monday, April 27th. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Piper Sandler upped their price target on Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Weiss Ratings downgraded Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International stock in a transaction on Tuesday, May 12th. The stock was 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 in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.32% of the company’s stock.

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.