New York State Teachers Retirement System Sells 517 Shares of Old Republic International Corporation $ORI

New York State Teachers Retirement System cut its position in Old Republic International Corporation (NYSE:ORI) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 274,359 shares of the insurance provider’s stock after selling 517 shares during the period. New York State Teachers Retirement System’s holdings in Old Republic International were worth $10,546,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. HWG Holdings LP bought a new position in Old Republic International in the first quarter valued at about $25,000. Quarry LP raised its position in Old Republic International by 6,645.5% in the first quarter. Quarry LP now owns 742 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 731 shares during the last quarter. 1 North Wealth Services LLC bought a new position in Old Republic International in the first quarter valued at about $29,000. Alpine Bank Wealth Management bought a new position in Old Republic International in the first quarter valued at about $31,000. Finally, Wayfinding Financial LLC bought a new position in Old Republic International in the first quarter valued at about $34,000. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Trading Up 1.4%

NYSE ORI opened at $41.48 on Friday. The business has a 50 day simple moving average of $40.70 and a 200 day simple moving average of $38.50. Old Republic International Corporation has a one year low of $33.00 and a one year high of $44.00. The stock has a market capitalization of $10.31 billion, a P/E ratio of 14.21 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.16 annualized dividend and a yield of 2.8%. Old Republic International’s dividend payout ratio (DPR) is currently 39.73%.

Insider Buying and Selling

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

Analyst Ratings Changes

ORI has been the subject of several recent research reports. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $43.00 to $47.00 in a research note on Monday, September 22nd. Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Wall Street Zen cut Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Piper Sandler increased their price target on Old Republic International from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and a consensus price target of $47.00.

Old Republic International 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.