Retirement Systems of Alabama Purchases 29,159 Shares of Old Republic International Co. (NYSE:ORI)

Retirement Systems of Alabama boosted its holdings in Old Republic International Co. (NYSE:ORI) by 4.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 655,137 shares of the insurance provider’s stock after acquiring an additional 29,159 shares during the quarter. Retirement Systems of Alabama owned 0.24% of Old Republic International worth $20,126,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ORI. BKM Wealth Management LLC purchased a new position in shares of Old Republic International during the fourth quarter valued at approximately $29,000. Naples Money Management LLC purchased a new stake in Old Republic International during the 4th quarter valued at $34,000. GAMMA Investing LLC bought a new position in shares of Old Republic International during the 4th quarter valued at $34,000. Blue Trust Inc. boosted its stake in shares of Old Republic International by 62.7% in the 4th quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock worth $37,000 after buying an additional 526 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Old Republic International by 526.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,321 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 1,110 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Price Performance

Shares of NYSE:ORI traded down $0.48 during mid-day trading on Friday, reaching $29.89. The stock had a trading volume of 1,893,737 shares, compared to its average volume of 1,639,903. The business’s 50 day moving average price is $30.86 and its 200 day moving average price is $29.83. Old Republic International Co. has a 1 year low of $24.82 and a 1 year high of $32.26. The company has a market cap of $8.12 billion, a P/E ratio of 11.82 and a beta of 0.83. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Old Republic International had a return on equity of 12.15% and a net margin of 9.52%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Research analysts expect that Old Republic International Co. will post 2.7 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th were paid a $0.265 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.55%. Old Republic International’s payout ratio is currently 41.25%.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 4,503 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $31.28, for a total transaction of $140,853.84. Following the sale, the senior vice president now directly owns 33,556 shares in the company, valued at $1,049,631.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Therace Risch purchased 6,086 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were bought at an average cost of $29.77 per share, for a total transaction of $181,180.22. Following the acquisition, the director now owns 6,086 shares of the company’s stock, valued at approximately $181,180.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 4,503 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $31.28, for a total value of $140,853.84. Following the completion of the sale, the senior vice president now owns 33,556 shares in the company, valued at $1,049,631.68. The disclosure for this sale can be found here. Insiders have sold a total of 9,172 shares of company stock worth $282,286 in the last three months. Insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ORI shares. Piper Sandler raised their target price on Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. StockNews.com upgraded Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday, April 26th.

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.