California State Teachers Retirement System trimmed its position in shares of Old Republic International Co. (NYSE:ORI) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,013 shares of the insurance provider’s stock after selling 35,455 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Old Republic International worth $8,152,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ORI. State of Wisconsin Investment Board increased its holdings in Old Republic International by 0.7% in the 2nd quarter. State of Wisconsin Investment Board now owns 48,609 shares of the insurance provider’s stock worth $949,000 after acquiring an additional 350 shares in the last quarter. Stephens Inc. AR increased its holdings in Old Republic International by 2.3% in the 2nd quarter. Stephens Inc. AR now owns 21,878 shares of the insurance provider’s stock worth $427,000 after acquiring an additional 500 shares in the last quarter. Utah Retirement Systems increased its holdings in Old Republic International by 1.4% in the 2nd quarter. Utah Retirement Systems now owns 44,588 shares of the insurance provider’s stock worth $870,000 after acquiring an additional 600 shares in the last quarter. Krilogy Financial LLC increased its holdings in Old Republic International by 3.3% in the 2nd quarter. Krilogy Financial LLC now owns 21,105 shares of the insurance provider’s stock worth $412,000 after acquiring an additional 675 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Old Republic International by 7.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,655 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 710 shares in the last quarter. 70.64% of the stock is owned by hedge funds and other institutional investors.
Shares of Old Republic International Co. (ORI) opened at $19.83 on Friday. Old Republic International Co. has a 1-year low of $17.92 and a 1-year high of $21.56. The stock has a market cap of $5,230.00, a price-to-earnings ratio of 14.69 and a beta of 1.36. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32.
Old Republic International (NYSE:ORI) last released its earnings results on Thursday, October 26th. The insurance provider reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.06. Old Republic International had a net margin of 6.45% and a return on equity of 7.50%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. equities research analysts forecast that Old Republic International Co. will post 1.17 EPS for the current fiscal year.
The firm also recently announced a None dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, January 9th. Old Republic International’s payout ratio is 56.30%.
Several equities research analysts recently commented on ORI shares. Zacks Investment Research raised shares of Old Republic International from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $23.00 to $25.00 in a report on Monday, October 30th.
In other news, COO R Scott Rager sold 47,500 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $21.00, for a total transaction of $997,500.00. Following the transaction, the chief operating officer now owns 40,000 shares of the company’s stock, valued at approximately $840,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Karl W. Mueller sold 19,052 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $21.00, for a total transaction of $400,092.00. Following the transaction, the chief financial officer now directly owns 5,331 shares in the company, valued at approximately $111,951. The disclosure for this sale can be found here. Insiders have sold 81,552 shares of company stock valued at $1,711,992 in the last ninety days. Insiders own 2.00% of the company’s stock.
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About Old Republic International
Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.
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