Old Republic International Corporation $ORI Holdings Raised by Illinois Municipal Retirement Fund

Key Points

• Illinois Municipal Retirement Fund boosted its stake in Old Republic International by 56.3% in Q1, holding 157,973 shares worth about $6.3 million after buying 56,913 additional shares.
• Old Republic International reported Q1 earnings of $0.68 per share, below analyst expectations of $0.79, while revenue came in slightly ahead of estimates at $2.40 billion and rose 6.7% year over year.
• The company paid a quarterly dividend of $0.315 per share, or $1.26 annualized, for a yield of about 3.0%, while analysts currently rate the stock a Moderate Buy with a consensus target price of $42.00.

Illinois Municipal Retirement Fund raised its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 56.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,973 shares of the insurance provider's stock after buying an additional 56,913 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Old Republic International worth $6,303,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Old Republic International in the fourth quarter worth $26,000. Torren Management LLC acquired a new stake in Old Republic International during the fourth quarter valued at $27,000. Commonwealth Retirement Investments LLC acquired a new stake in Old Republic International during the fourth quarter valued at $27,000. JPL Wealth Management LLC purchased a new position in Old Republic International in the third quarter valued at about $27,000. Finally, Quest 10 Wealth Builders Inc. purchased a new position in Old Republic International in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Old Republic International Trading Up 1.7%

Old Republic International stock opened at $42.19 on Friday. Old Republic International Corporation has a one year low of $35.60 and a one year high of $46.76. The company's fifty day moving average price is $39.59 and its two-hundred day moving average price is $40.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 11.31 and a beta of 0.58.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.11). The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.Old Republic International's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. On average, analysts forecast that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, June 5th. Old Republic International's dividend payout ratio (DPR) is presently 33.78%.

Insiders Place Their Bets

In related news, SVP Carolyn Monroe sold 13,330 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the sale, the senior vice president directly owned 32,261 shares in the company, valued at approximately $1,250,436.36. The trade was a 29.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.32% of the company's stock.

Analyst Ratings Changes

ORI has been the subject of a number of recent research reports. Piper Sandler raised their price target on Old Republic International from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Old Republic International in a research note on Wednesday, July 8th. Zacks Research upgraded Old Republic International from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Finally, Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Old Republic International has an average rating of "Moderate Buy" and a consensus target price of $42.00.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

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