Louisiana State Employees Retirement System Sells 1,300 Shares of Old Republic International Corporation $ORI

Louisiana State Employees Retirement System trimmed its position in shares of Old Republic International Corporation (NYSE:ORI) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,000 shares of the insurance provider’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Old Republic International were worth $2,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. HWG Holdings LP purchased a new position in Old Republic International during the first quarter worth $25,000. Quarry LP boosted its stake in Old Republic International by 6,645.5% during the first quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after buying an additional 731 shares during the period. 1 North Wealth Services LLC purchased a new position in Old Republic International during the first quarter worth $29,000. Alpine Bank Wealth Management purchased a new position in Old Republic International during the first quarter worth $31,000. Finally, Wayfinding Financial LLC purchased a new position in Old Republic International during the first quarter worth $34,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ORI. Wall Street Zen lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $43.00 to $47.00 in a research note on Monday, September 22nd. Finally, Piper Sandler boosted their target price on shares of Old Republic International from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, Old Republic International has an average rating of “Strong Buy” and a consensus price target of $47.00.

Old Republic International Stock Up 0.2%

Shares of ORI opened at $43.16 on Friday. The firm has a market capitalization of $10.72 billion, a P/E ratio of 14.78 and a beta of 0.76. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $44.00. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $40.16 and a 200-day moving average price of $38.39.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Old Republic International’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.7%. Old Republic International’s dividend payout ratio is 39.73%.

Insider Buying and Selling

In other Old Republic International news, Director Therace Risch acquired 1,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was bought at an average cost of $39.90 per share, with a total value of $59,850.00. Following the completion of the purchase, the director directly owned 9,625 shares in the company, valued at $384,037.50. The trade was a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 6,849 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the sale, the senior vice president directly owned 35,755 shares of the company’s stock, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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.