Old Republic International Co. (NYSE:ORI) Stake Cut by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its position in shares of Old Republic International Co. (NYSE:ORI) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 64,700 shares of the insurance provider’s stock after selling 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Old Republic International were worth $2,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Old Republic International by 161.9% in the third quarter. Allworth Financial LP now owns 728 shares of the insurance provider’s stock valued at $26,000 after buying an additional 450 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Old Republic International in the third quarter valued at $28,000. V Square Quantitative Management LLC acquired a new position in shares of Old Republic International during the third quarter valued at $31,000. Core Alternative Capital acquired a new position in shares of Old Republic International during the fourth quarter valued at $36,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Old Republic International during the fourth quarter valued at $39,000. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Price Performance

NYSE:ORI opened at $36.39 on Friday. The business’s 50-day moving average price is $36.01 and its 200 day moving average price is $35.83. The firm has a market cap of $9.23 billion, a P/E ratio of 13.83 and a beta of 0.88. Old Republic International Co. has a 52-week low of $28.20 and a 52-week high of $39.27. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI) last released 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%. As a group, sell-side analysts predict that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company 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 was Friday, January 3rd. Old Republic International’s payout ratio is currently 40.30%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ORI shares. Piper Sandler raised their price target on Old Republic International from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, October 21st. StockNews.com lowered Old Republic International from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 1st.

Insider Buying and Selling

In other Old Republic International news, SVP Jeffrey Lange sold 1,098 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the sale, the senior vice president now owns 34,679 shares in the company, valued at approximately $1,267,864.24. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 9,188 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total value of $333,983.80. Following the sale, the senior vice president now owns 33,556 shares in the company, valued at approximately $1,219,760.60. The trade was a 21.50 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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.