New York State Common Retirement Fund Lowers Holdings in Old Republic International Corporation (NYSE:ORI)

New York State Common Retirement Fund lessened its holdings in Old Republic International Corporation (NYSE:ORI - Free Report) by 42.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 149,542 shares of the insurance provider's stock after selling 108,355 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of Old Republic International worth $5,865,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ORI. Norges Bank purchased a new position in shares of Old Republic International during the 4th quarter worth approximately $105,581,000. Invesco Ltd. grew its stake in Old Republic International by 26.4% in the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock worth $85,044,000 after acquiring an additional 490,788 shares during the period. Northern Trust Corp grew its stake in Old Republic International by 14.4% in the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock worth $114,940,000 after acquiring an additional 400,384 shares during the period. Millennium Management LLC grew its stake in Old Republic International by 93.8% in the 4th quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock worth $29,802,000 after acquiring an additional 398,531 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in Old Republic International by 136.5% in the 4th quarter. Voloridge Investment Management LLC now owns 490,263 shares of the insurance provider's stock worth $17,743,000 after acquiring an additional 282,963 shares during the period. Institutional investors and hedge funds own 70.92% of the company's stock.

Analyst Ratings Changes

ORI has been the topic of several recent research reports. Piper Sandler set a $42.00 target price on shares of Old Republic International in a report on Friday, April 25th. Raymond James Financial set a $42.00 price objective on shares of Old Republic International and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th.

Old Republic International Stock Performance

Old Republic International stock traded down $0.27 during mid-day trading on Thursday, reaching $36.35. The company had a trading volume of 424,214 shares, compared to its average volume of 1,306,438. The company has a 50 day moving average of $37.47 and a 200-day moving average of $37.16. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 14.79 and a beta of 0.73. Old Republic International Corporation has a 52 week low of $32.25 and a 52 week high of $39.84. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.27.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Old Republic International had a net margin of 9.37% and a return on equity of 20.99%. The company's revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, June 6th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Friday, June 6th. Old Republic International's payout ratio is presently 47.15%.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 10,601 shares of Old Republic International stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total transaction of $396,265.38. Following the sale, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,336,521.90. The trade was a 22.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% 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.