California Public Employees Retirement System Increases Stock Position in Old Republic International Co. (NYSE:ORI)

California Public Employees Retirement System raised its position in shares of Old Republic International Co. (NYSE:ORI) by 174.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,380,617 shares of the insurance provider’s stock after buying an additional 876,872 shares during the period. California Public Employees Retirement System’s holdings in Old Republic International were worth $40,590,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp increased its position in shares of Old Republic International by 13.1% during the third quarter. Northern Trust Corp now owns 2,460,669 shares of the insurance provider’s stock valued at $66,290,000 after buying an additional 284,491 shares during the period. Invesco Ltd. grew its holdings in shares of Old Republic International by 55.2% during the 3rd quarter. Invesco Ltd. now owns 2,263,038 shares of the insurance provider’s stock worth $60,966,000 after acquiring an additional 804,803 shares during the period. AQR Capital Management LLC raised its position in shares of Old Republic International by 3.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,812,451 shares of the insurance provider’s stock worth $48,827,000 after acquiring an additional 58,008 shares in the last quarter. LSV Asset Management lifted its stake in shares of Old Republic International by 44.3% in the 3rd quarter. LSV Asset Management now owns 1,526,990 shares of the insurance provider’s stock valued at $41,137,000 after purchasing an additional 469,000 shares during the period. Finally, UBS Group AG boosted its position in shares of Old Republic International by 1,208.9% during the third quarter. UBS Group AG now owns 1,511,315 shares of the insurance provider’s stock valued at $40,715,000 after purchasing an additional 1,395,849 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Up 0.4 %

NYSE:ORI opened at $30.13 on Friday. The firm’s 50-day moving average price is $29.58 and its 200-day moving average price is $28.90. The company has a market capitalization of $8.30 billion, a PE ratio of 11.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.28 and a quick ratio of 0.25. Old Republic International Co. has a 1-year low of $24.03 and a 1-year high of $31.22.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, January 25th. The insurance provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). Old Republic International had a return on equity of 12.15% and a net margin of 9.52%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. On average, equities analysts predict that Old Republic International Co. will post 2.7 EPS for the current fiscal year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.52%. This is an increase from Old Republic International’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 8th. Old Republic International’s dividend payout ratio is 41.25%.

Analysts Set New Price Targets

ORI has been the subject of several recent research reports. StockNews.com raised Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday. Piper Sandler upped their target price on shares of Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st.

Insider Activity at Old Republic International

In other news, Director Barbara Adachi acquired 1,925 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average cost of $28.60 per share, with a total value of $55,055.00. Following the transaction, the director now owns 7,845 shares of the company’s stock, valued at approximately $224,367. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Carolyn Monroe sold 6,528 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $27.71, for a total transaction of $180,890.88. Following the sale, the senior vice president now directly owns 35,340 shares of the company’s stock, valued at approximately $979,271.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara Adachi bought 1,925 shares of the stock in a transaction on Friday, February 16th. The shares were bought at an average price of $28.60 per share, for a total transaction of $55,055.00. Following the purchase, the director now directly owns 7,845 shares in the company, valued at approximately $224,367. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by 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.