California Public Employees Retirement System Has $41.75 Million Stock Holdings in Old Republic International Co. (NYSE:ORI)

California Public Employees Retirement System reduced its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,153,619 shares of the insurance provider's stock after selling 33,195 shares during the period. California Public Employees Retirement System owned 0.45% of Old Republic International worth $41,749,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ORI. Janus Henderson Group PLC grew its stake in Old Republic International by 5.9% in the third quarter. Janus Henderson Group PLC now owns 120,303 shares of the insurance provider's stock valued at $4,262,000 after purchasing an additional 6,664 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Old Republic International by 4.1% during the 4th quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider's stock valued at $279,000 after buying an additional 302 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Old Republic International by 37.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 71,716 shares of the insurance provider's stock valued at $2,595,000 after buying an additional 19,400 shares in the last quarter. Orca Wealth Management LLC acquired a new position in Old Republic International in the fourth quarter worth approximately $5,209,000. Finally, JPMorgan Chase & Co. raised its position in Old Republic International by 5.3% during the third quarter. JPMorgan Chase & Co. now owns 851,492 shares of the insurance provider's stock valued at $30,160,000 after acquiring an additional 42,934 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

ORI has been the subject of several recent research reports. StockNews.com downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Piper Sandler increased their target price on shares of Old Republic International from $41.00 to $43.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st.

Old Republic International Stock Performance

ORI traded down $1.06 on Monday, hitting $35.24. The company had a trading volume of 2,179,107 shares, compared to its average volume of 1,284,316. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 13.40 and a beta of 0.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The company's fifty day moving average price is $37.27 and its 200 day moving average price is $36.56. Old Republic International Co. has a 1-year low of $28.59 and a 1-year high of $39.84.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Equities analysts predict that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given a $0.29 dividend. This is an increase from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, March 10th. Old Republic International's dividend payout ratio (DPR) is currently 44.11%.

Insider Transactions at Old Republic International

In related news, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.60, for a total transaction of $204,425.60. Following the sale, the chief executive officer now directly owns 138,222 shares of the company's stock, valued at $5,335,369.20. This trade represents a 3.69 % 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. Also, VP Thomas Dare sold 27,457 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the transaction, the vice president now directly owns 46,556 shares of the company's stock, valued at approximately $1,699,294. This trade represents a 37.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,039 shares of company stock worth $1,580,733. Company insiders own 1.00% of the company's stock.

About Old Republic International

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.