Old Republic International Corporation (NYSE:ORI) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 585,621 shares of the insurance provider's stock after selling 25,718 shares during the period. Retirement Systems of Alabama owned about 0.24% of Old Republic International worth $22,968,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ORI. Parallel Advisors LLC increased its position in Old Republic International by 1.6% during the fourth quarter. Parallel Advisors LLC now owns 18,884 shares of the insurance provider's stock worth $683,000 after buying an additional 290 shares during the period. Ironwood Investment Management LLC grew its position in shares of Old Republic International by 1.3% during the fourth quarter. Ironwood Investment Management LLC now owns 23,485 shares of the insurance provider's stock worth $850,000 after acquiring an additional 301 shares during the last quarter. SPC Financial Inc. grew its position in shares of Old Republic International by 1.8% during the fourth quarter. SPC Financial Inc. now owns 18,012 shares of the insurance provider's stock worth $652,000 after acquiring an additional 312 shares during the last quarter. Summit Financial LLC increased its holdings in shares of Old Republic International by 6.1% in the 4th quarter. Summit Financial LLC now owns 6,017 shares of the insurance provider's stock valued at $218,000 after acquiring an additional 347 shares during the period. Finally, Penbrook Management LLC raised its position in Old Republic International by 5.0% in the 1st quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider's stock valued at $333,000 after purchasing an additional 400 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

Shares of Old Republic International stock traded down $0.68 during trading hours on Wednesday, hitting $37.28. 1,308,094 shares of the company were exchanged, compared to its average volume of 1,204,593. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $37.62 and a 200-day moving average of $37.00. Old Republic International Corporation has a 1 year low of $29.83 and a 1 year high of $39.84. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 15.15 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. Old Republic International had a net margin of 9.37% and a return on equity of 20.99%. The company had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.03 billion. Old Republic International's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, June 6th. This represents a $1.16 annualized dividend and a yield of 3.11%. Old Republic International's dividend payout ratio is currently 47.15%.

Insider Activity at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 10,601 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $37.38, for a total value of $396,265.38. Following the completion of the transaction, the senior vice president now owns 35,755 shares in the company, valued at approximately $1,336,521.90. This represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ORI has been the topic of several research reports. Raymond James Financial set a $42.00 price objective on shares of Old Republic International and gave the stock an "outperform" rating in a research report on Monday, April 28th. Piper Sandler set a $42.00 target price on shares of Old Republic International in a research note on Friday, April 25th. Finally, Wall Street Zen cut Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th.

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.