New Mexico Educational Retirement Board trimmed its holdings in Old Republic International Co. (NYSE:ORI – Free Report) by 14.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 48,258 shares of the insurance provider’s stock after selling 8,142 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Old Republic International were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ORI. Allworth Financial LP grew its holdings in Old Republic International by 161.9% in the 3rd quarter. Allworth Financial LP now owns 728 shares of the insurance provider’s stock worth $26,000 after buying an additional 450 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Old Republic International in the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in Old Republic International in the 3rd quarter worth approximately $31,000. Core Alternative Capital bought a new position in Old Republic International in the 4th quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new position in Old Republic International in the 4th quarter worth approximately $39,000. 70.92% of the stock is owned by institutional investors.
Old Republic International Stock Down 0.3 %
ORI stock opened at $36.39 on Monday. The firm has a market cap of $9.23 billion, a PE ratio of 13.83 and a beta of 0.88. Old Republic International Co. has a 12 month low of $28.20 and a 12 month high of $39.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The firm has a 50 day simple moving average of $35.98 and a 200 day simple moving average of $35.86.
Old Republic International Announces Dividend
The firm also recently announced a special dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, January 3rd were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, January 3rd. Old Republic International’s payout ratio is 40.30%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on ORI. Piper Sandler increased their price target on Old Republic International from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. StockNews.com lowered Old Republic International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 1st.
Read Our Latest Report on Old Republic International
Insider Buying and Selling
In related news, SVP Jeffrey Lange sold 1,098 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the sale, the senior vice president now directly owns 34,679 shares in the company, valued at approximately $1,267,864.24. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Carolyn Monroe sold 9,188 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total transaction of $333,983.80. Following the completion of the sale, the senior vice president now owns 33,556 shares of the company’s stock, valued at approximately $1,219,760.60. This trade represents a 21.50 % decrease in their position. The disclosure for this sale 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.
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