California Public Employees Retirement System Acquires 876,872 Shares of Old Republic International Co. (NYSE:ORI)

California Public Employees Retirement System lifted its holdings in shares of Old Republic International Co. (NYSE:ORI) by 174.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,380,617 shares of the insurance provider’s stock after purchasing an additional 876,872 shares during the quarter. California Public Employees Retirement System owned 0.49% of Old Republic International worth $40,590,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Old Republic International by 1,069.4% in the third quarter. Allworth Financial LP now owns 994 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 909 shares during the last quarter. BKM Wealth Management LLC bought a new position in Old Republic International in the fourth quarter valued at approximately $29,000. Naples Money Management LLC bought a new position in Old Republic International in the fourth quarter valued at approximately $34,000. Global Retirement Partners LLC increased its stake in 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 valued at $39,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Old Republic International by 62.7% in the fourth quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 526 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

Insider Activity at Old Republic International

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

Old Republic International Price Performance

Shares of NYSE:ORI opened at $30.13 on Friday. The firm has a market cap of $8.30 billion, a PE ratio of 11.72 and a beta of 0.81. The firm’s fifty day moving average is $29.58 and its 200-day moving average is $28.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.25 and a current ratio of 1.28. Old Republic International Co. has a 52 week low of $24.03 and a 52 week high of $31.22.

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

Old Republic International Increases Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on ORI shares. StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler boosted 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 note on Monday, April 1st.

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.