Retirement Systems of Alabama Sells 25,718 Shares of Old Republic International Corporation (NYSE:ORI)

Retirement Systems of Alabama reduced its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 585,621 shares of the insurance provider's stock after selling 25,718 shares during the quarter. Retirement Systems of Alabama owned 0.24% of Old Republic International worth $22,968,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of Old Republic International by 14.4% in the fourth quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock worth $114,940,000 after purchasing an additional 400,384 shares in the last quarter. Norges Bank bought a new stake in Old Republic International during the 4th quarter worth about $105,581,000. Invesco Ltd. lifted its position in Old Republic International by 26.4% during the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock worth $85,044,000 after buying an additional 490,788 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Old Republic International by 2.7% during the 4th quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider's stock worth $68,219,000 after buying an additional 49,160 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Old Republic International in the 4th quarter valued at about $67,054,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Old Republic International

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

Old Republic International Price Performance

Shares of ORI stock traded up $0.32 during trading on Monday, hitting $37.63. The company had a trading volume of 344,104 shares, compared to its average volume of 1,200,543. The firm has a market capitalization of $9.30 billion, a P/E ratio of 15.30 and a beta of 0.74. Old Republic International Corporation has a one year low of $29.83 and a one year high of $39.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.24 and a current ratio of 0.24. The stock's 50-day moving average price is $37.61 and its 200 day moving average price is $36.99.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. Old Republic International had a return on equity of 20.99% and a net margin of 9.37%. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International's revenue was up 11.4% on a year-over-year basis. Equities 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. Shareholders of record on Friday, June 6th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, June 6th. Old Republic International's dividend payout ratio is currently 47.15%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ORI. Piper Sandler set a $42.00 price target on Old Republic International in a research report on Friday, April 25th. Raymond James Financial set a $42.00 price target on Old Republic International and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Wall Street Zen downgraded Old Republic International from a "buy" rating to a "hold" rating in a 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.