Old Republic International Co. (NYSE:ORI) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Old Republic International Co. (NYSE:ORI) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,153,619 shares of the insurance provider’s stock after selling 33,195 shares during the period. California Public Employees Retirement System owned approximately 0.45% of Old Republic International worth $41,749,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new position in Old Republic International in the 4th quarter valued at about $105,581,000. Raymond James Financial Inc. bought a new position in shares of Old Republic International in the fourth quarter valued at approximately $67,054,000. JPMorgan Chase & Co. increased its stake in shares of Old Republic International by 4.7% during the fourth quarter. JPMorgan Chase & Co. now owns 891,112 shares of the insurance provider’s stock valued at $32,249,000 after acquiring an additional 39,620 shares during the period. Systematic Financial Management LP raised its holdings in Old Republic International by 9.6% during the third quarter. Systematic Financial Management LP now owns 882,782 shares of the insurance provider’s stock worth $31,268,000 after purchasing an additional 77,583 shares in the last quarter. Finally, Boston Financial Mangement LLC lifted its position in Old Republic International by 1.2% in the fourth quarter. Boston Financial Mangement LLC now owns 785,190 shares of the insurance provider’s stock worth $28,416,000 after purchasing an additional 9,011 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Trading Up 0.5 %

Old Republic International stock opened at $39.83 on Thursday. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 15.14 and a beta of 0.83. Old Republic International Co. has a 1 year low of $28.59 and a 1 year high of $39.84. The firm’s 50 day moving average price is $37.25 and its two-hundred day moving average price is $36.53. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. On average, research analysts predict that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.91%. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International’s dividend payout ratio (DPR) is presently 44.11%.

Insider Transactions at Old Republic International

In related news, CEO Craig R. Smiddy sold 5,296 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total value of $204,425.60. Following the completion of the transaction, the chief executive officer now owns 138,222 shares of the company’s stock, valued at approximately $5,335,369.20. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jeffrey Lange sold 1,098 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold a total of 43,039 shares of company stock valued at $1,580,733 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ORI. Piper Sandler lifted their price target on Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday. StockNews.com cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

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.