Texas Permanent School Fund Corp cut its position in shares of Old Republic International Co. (NYSE:ORI – Free Report) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,823 shares of the insurance provider’s stock after selling 14,912 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of Old Republic International worth $6,057,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Old Republic International by 58.9% during the first quarter. American Century Companies Inc. now owns 56,825 shares of the insurance provider’s stock worth $1,471,000 after purchasing an additional 21,064 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Old Republic International by 31.1% during the first quarter. HighTower Advisors LLC now owns 17,253 shares of the insurance provider’s stock worth $448,000 after purchasing an additional 4,088 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Old Republic International by 21.5% during the first quarter. Natixis Advisors L.P. now owns 22,153 shares of the insurance provider’s stock worth $573,000 after purchasing an additional 3,918 shares during the last quarter. D.A. Davidson & CO. bought a new stake in shares of Old Republic International during the first quarter worth $296,000. Finally, Panagora Asset Management Inc. grew its holdings in shares of Old Republic International by 2.3% during the first quarter. Panagora Asset Management Inc. now owns 21,388 shares of the insurance provider’s stock worth $553,000 after purchasing an additional 484 shares during the last quarter. 70.61% of the stock is currently owned by institutional investors.
Old Republic International Stock Up 1.1 %
Shares of Old Republic International stock opened at $27.87 on Monday. The business’s 50 day simple moving average is $29.05 and its 200 day simple moving average is $28.07. Old Republic International Co. has a 52-week low of $23.31 and a 52-week high of $30.60. The firm has a market cap of $7.81 billion, a PE ratio of 13.27 and a beta of 0.81. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.60 and a current ratio of 1.26.
Old Republic International Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, December 5th were paid a $0.245 dividend. The ex-dividend date of this dividend was Monday, December 4th. This represents a $0.98 annualized dividend and a yield of 3.52%. Old Republic International’s dividend payout ratio (DPR) is presently 46.67%.
Insider Activity at Old Republic International
In related news, SVP Carolyn Monroe sold 6,528 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the sale, the senior vice president now directly owns 35,340 shares in the company, valued at approximately $979,271.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on ORI shares. StockNews.com cut Old Republic International from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Raymond James raised their price target on Old Republic International from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 30th. Finally, Piper Sandler upgraded Old Republic International from a “neutral” rating to an “overweight” rating and set a $32.00 price target on the stock in a report on Monday.
Old Republic International Company 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 the Republic Financial Indemnity Group Run-off Business.
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