VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 502,061 Old Republic International Corporation $ORI

Key Points

• Virginia Retirement Systems ET Al acquired 502,061 shares of Old Republic International Corporation, valued at approximately $19.3 million, increasing its ownership to 0.20% of the company.
• Old Republic International reported earnings of $0.83 per share for the quarter, exceeding estimates, with revenue increasing by 10.1% year-over-year, totaling $2.21 billion.
• The company declared a quarterly dividend of $0.29 per share, which translates to an annualized dividend yield of 2.8%.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 502,061 shares of the insurance provider's stock, valued at approximately $19,299,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.20% of Old Republic International at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. HWG Holdings LP purchased a new position in Old Republic International during the 1st quarter valued at $25,000. Quarry LP grew its position 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 buying an additional 731 shares during the period. 1 North Wealth Services LLC purchased a new stake in shares of Old Republic International in the 1st quarter worth about $29,000. Alpine Bank Wealth Management purchased a new stake in shares of Old Republic International in the 1st quarter worth about $31,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of Old Republic International in the 1st quarter worth about $34,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

Shares of ORI stock opened at $41.48 on Monday. Old Republic International Corporation has a one year low of $33.00 and a one year high of $44.00. The company's 50-day moving average is $40.70 and its 200 day moving average is $38.49. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 14.21 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business 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. The ex-dividend date was Friday, September 5th. This represents a $1.16 annualized dividend and a yield of 2.8%. Old Republic International's dividend payout ratio is currently 39.73%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ORI shares. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler upped their target price on shares of Old Republic International from $45.00 to $47.00 and gave the stock an "overweight" rating in a research report on Monday, October 6th. Raymond James Financial raised shares of Old Republic International from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Old Republic International in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Strong Buy" and an average price target of $47.00.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of the company'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 transaction, the executive vice president owned 54,661 shares in the company, valued at approximately $2,147,630.69. This represents a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Therace Risch bought 1,500 shares of the stock in a transaction on Tuesday, September 2nd. The shares were bought at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the purchase, the director directly owned 9,625 shares in the company, valued at approximately $384,037.50. This trade represents a 18.46% increase in their position. The disclosure for this purchase can be found here. Company 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.

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