New York State Teachers Retirement System reduced its holdings in shares of Old Republic International Corporation (NYSE:ORI – Free Report) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 274,359 shares of the insurance provider’s stock after selling 517 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of Old Republic International worth $10,546,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORI. GAMMA Investing LLC grew its holdings in Old Republic International by 23.4% in the 1st quarter. GAMMA Investing LLC now owns 5,526 shares of the insurance provider’s stock valued at $217,000 after buying an additional 1,047 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Old Republic International by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider’s stock valued at $23,143,000 after buying an additional 23,775 shares in the last quarter. Woodmont Investment Counsel LLC grew its holdings in Old Republic International by 2.9% in the 1st quarter. Woodmont Investment Counsel LLC now owns 129,085 shares of the insurance provider’s stock valued at $5,063,000 after buying an additional 3,621 shares in the last quarter. HWG Holdings LP acquired a new position in Old Republic International in the 1st quarter valued at $25,000. Finally, Berry Wealth Group LP grew its holdings in Old Republic International by 46.3% in the 1st quarter. Berry Wealth Group LP now owns 9,145 shares of the insurance provider’s stock valued at $359,000 after buying an additional 2,894 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, EVP Stephen J. Oberst sold 4,797 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the sale, the executive vice president directly owned 54,661 shares in the company, valued at $2,147,630.69. This represents a 8.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Therace Risch acquired 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were acquired at an average price of $39.90 per share, with a total value of $59,850.00. Following the completion of the transaction, the director 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 disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.
Old Republic International Stock Performance
Old Republic International (NYSE:ORI – Get Free Report) last released its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International’s revenue was up 10.1% on a year-over-year basis. As a group, equities analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal 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 given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, September 5th. Old Republic International’s dividend payout ratio is currently 39.73%.
Analyst Upgrades and Downgrades
ORI has been the topic of a number of research reports. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $43.00 to $47.00 in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a report on Wednesday, October 8th. Wall Street Zen lowered Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Piper Sandler upped their target price on Old Republic International from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, Old Republic International currently has an average rating of “Strong Buy” and a consensus price target of $47.00.
Read Our Latest Stock Report on ORI
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.
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