Illinois Municipal Retirement Fund Purchases 56,913 Shares of Old Republic International Corporation $ORI

Illinois Municipal Retirement Fund boosted its position in shares of Old Republic International Corporation (NYSE:ORI) by 56.3% in the first quarter, Holdings Channel reports. The fund owned 157,973 shares of the insurance provider’s stock after acquiring an additional 56,913 shares during the period. Illinois Municipal Retirement Fund’s holdings in Old Republic International were worth $6,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of Old Republic International by 230.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,852,387 shares of the insurance provider’s stock valued at $540,943,000 after purchasing an additional 8,266,829 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Old Republic International by 30.7% during the 3rd quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock worth $319,155,000 after purchasing an additional 1,774,807 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Old Republic International by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 4,181,149 shares of the insurance provider’s stock worth $190,870,000 after purchasing an additional 72,857 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Old Republic International by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,949,102 shares of the insurance provider’s stock valued at $170,364,000 after purchasing an additional 22,496 shares during the period. Finally, GQG Partners LLC bought a new stake in Old Republic International during the 4th quarter valued at approximately $155,960,000. 70.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ORI has been the topic of several recent analyst reports. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Raymond James Financial set a $44.00 price target on Old Republic International in a report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Old Republic International in a research note on Wednesday, July 8th. Finally, Piper Sandler boosted their target price on shares of Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.00.

Old Republic International Stock Up 1.7%

NYSE ORI opened at $42.19 on Friday. Old Republic International Corporation has a twelve month low of $35.60 and a twelve month high of $46.76. The stock has a market cap of $10.24 billion, a PE ratio of 11.31 and a beta of 0.58. The firm has a 50-day simple moving average of $39.59 and a 200 day simple moving average of $40.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.23 and a current ratio of 0.23.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $2.40 billion for 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 company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, research analysts forecast that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Announces Dividend

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

Insider Activity

In other news, SVP Carolyn Monroe sold 13,330 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total transaction of $516,670.80. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.32% of the company’s stock.

About Old Republic International

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.