Strs Ohio Makes New $3.15 Million Investment in Old Republic International Corporation $ORI

Key Points

• Strs Ohio has acquired a new stake in Old Republic International Corporation, purchasing 80,189 shares worth approximately $3.145 million during the first quarter.
• Analysts have recently adjusted their ratings for ORI, with Piper Sandler raising their price objective from $41.00 to $45.00, while Wall Street Zen downgraded the stock from a "buy" to a "hold."
• Old Republic International announced a quarterly dividend of $0.29 per share, with a dividend yield of 2.9%, and reported strong earnings with a net margin of 10.31%.

Strs Ohio acquired a new stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 80,189 shares of the insurance provider's stock, valued at approximately $3,145,000.

A number of other institutional investors and hedge funds have also modified their holdings of ORI. HWG Holdings LP bought a new stake in shares of Old Republic International in the 1st quarter worth $25,000. 1 North Wealth Services LLC bought a new stake in shares of Old Republic International in the 1st quarter worth $29,000. Quarry LP increased its holdings in shares of Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider's stock worth $29,000 after purchasing an additional 731 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Old Republic International in the 1st quarter worth $31,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Old Republic International in the 1st quarter worth $34,000. Institutional investors own 70.92% of the company's stock.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the transaction, the executive vice president directly owned 54,661 shares of the company's stock, valued at $2,147,630.69. The trade was a 8.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Therace Risch bought 1,500 shares of Old Republic International stock in a transaction on Tuesday, September 2nd. The shares were purchased at an average cost of $39.90 per share, with a total value of $59,850.00. Following the completion of the purchase, the director directly owned 9,625 shares in the company, valued at $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ORI shares. Piper Sandler lifted their price objective on Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Wall Street Zen lowered Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $43.50.

Old Republic International Stock Performance

Shares of NYSE ORI traded up $0.10 during midday trading on Thursday, hitting $39.76. The company's stock had a trading volume of 1,089,500 shares, compared to its average volume of 1,309,068. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25. The firm's fifty day moving average price is $38.23 and its 200-day moving average price is $37.85. The firm has a market cap of $9.88 billion, a P/E ratio of 13.62 and a beta of 0.78. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $41.15.

Old Republic International (NYSE:ORI - Get Free Report) last posted its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The firm's revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International's payout ratio is presently 39.73%.

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.