Old Republic International Co. (NYSE:ORI) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its holdings in shares of Old Republic International Co. (NYSE:ORI) by 23.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,672 shares of the insurance provider’s stock after purchasing an additional 14,796 shares during the period. Illinois Municipal Retirement Fund’s holdings in Old Republic International were worth $2,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Old Republic International by 1,069.4% during the third quarter. Allworth Financial LP now owns 994 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 909 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Old Republic International during the fourth quarter valued at approximately $29,000. Naples Money Management LLC acquired a new stake in shares of Old Republic International during the fourth quarter valued at approximately $34,000. Blue Trust Inc. increased its stake in Old Republic International by 62.7% in the 4th quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock valued at $37,000 after buying an additional 526 shares during the period. Finally, Global Retirement Partners LLC increased its stake in Old Republic International by 526.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,321 shares of the insurance provider’s stock valued at $39,000 after buying an additional 1,110 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ORI. Piper Sandler upped their price objective on shares of Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. StockNews.com downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

Old Republic International Price Performance

NYSE ORI opened at $30.02 on Friday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $29.55 and a 200 day simple moving average of $28.88. The company has a market cap of $8.27 billion, a P/E ratio of 14.30 and a beta of 0.81. Old Republic International Co. has a 1 year low of $24.03 and a 1 year high of $31.22.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, January 25th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.03). The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.95 billion. Old Republic International had a return on equity of 12.10% and a net margin of 8.25%. On average, sell-side analysts predict that Old Republic International Co. will post 2.7 EPS for the current year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Monday, March 11th were issued a $0.265 dividend. The ex-dividend date was Friday, March 8th. This is an increase from Old Republic International’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 3.53%. Old Republic International’s dividend payout ratio is 50.48%.

Insider Buying and Selling at Old Republic International

In related news, Director Barbara Adachi purchased 1,925 shares of Old Republic International stock in a transaction on Friday, February 16th. The stock was purchased at an average cost of $28.60 per share, with a total value of $55,055.00. Following the acquisition, the director now directly owns 7,845 shares in the company, valued at $224,367. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Old Republic International news, Director Barbara Adachi acquired 1,925 shares of Old Republic International stock in a transaction dated Friday, February 16th. The stock was bought at an average cost of $28.60 per share, with a total value of $55,055.00. Following the acquisition, the director now owns 7,845 shares of the company’s stock, valued at $224,367. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Carolyn Monroe sold 6,528 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $27.71, for a total transaction of $180,890.88. Following the transaction, 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. Insiders own 1.00% of the company’s stock.

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.