Teacher Retirement System of Texas Has $8.99 Million Stock Holdings in Old Republic International Corporation (NYSE:ORI)

Teacher Retirement System of Texas grew its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 29.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 229,253 shares of the insurance provider's stock after acquiring an additional 52,626 shares during the period. Teacher Retirement System of Texas owned about 0.09% of Old Republic International worth $8,991,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ORI. Norges Bank purchased a new stake in shares of Old Republic International in the fourth quarter valued at $105,581,000. Raymond James Financial Inc. purchased a new stake in shares of Old Republic International in the fourth quarter valued at $67,054,000. Invesco Ltd. lifted its holdings in shares of Old Republic International by 26.4% in the fourth quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock valued at $85,044,000 after purchasing an additional 490,788 shares in the last quarter. Northern Trust Corp lifted its holdings 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 valued at $114,940,000 after purchasing an additional 400,384 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Old Republic International by 93.8% in the fourth quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock valued at $29,802,000 after purchasing an additional 398,531 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler set a $42.00 target price on Old Republic International in a report on Friday, April 25th. Raymond James Financial set a $42.00 target price on Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Wall Street Zen upgraded Old Republic International from a "hold" rating to a "buy" rating in a report on Friday, June 27th.

Old Republic International Stock Down 0.5%

Shares of NYSE:ORI traded down $0.17 during midday trading on Wednesday, hitting $37.38. 1,453,206 shares of the stock were exchanged, compared to its average volume of 1,209,408. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.24 and a current ratio of 0.24. Old Republic International Corporation has a 52-week low of $30.02 and a 52-week high of $39.84. The business's fifty day simple moving average is $37.70 and its two-hundred day simple moving average is $37.12. The company has a market capitalization of $9.24 billion, a PE ratio of 15.20 and a beta of 0.73.

Old Republic International (NYSE:ORI - Get Free Report) last posted its earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International had a net margin of 9.37% and a return on equity of 20.99%. Old Republic International's revenue was up 11.4% compared to the same quarter last year. As a group, research analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently declared 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 3.10%. The ex-dividend date was Friday, June 6th. Old Republic International's dividend payout ratio is currently 47.15%.

Insider Activity

In related 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 transaction of $396,265.38. Following the sale, the senior vice president directly owned 35,755 shares of the company's stock, valued at $1,336,521.90. This trade represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.