Louisiana State Employees Retirement System reduced its position in shares of Old Republic International Co. (NYSE:ORI – Free Report) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,200 shares of the insurance provider’s stock after selling 2,600 shares during the period. Louisiana State Employees Retirement System’s holdings in Old Republic International were worth $1,828,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in Old Republic International during the 1st quarter worth approximately $25,000. Belpointe Asset Management LLC purchased a new stake in Old Republic International during the 4th quarter worth approximately $28,000. Stonebridge Capital Advisors LLC increased its stake in Old Republic International by 130.9% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,411 shares of the insurance provider’s stock worth $34,000 after buying an additional 800 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in Old Republic International during the 2nd quarter worth approximately $34,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in Old Republic International during the 1st quarter worth approximately $40,000. 70.66% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ORI has been the subject of several research reports. Piper Sandler initiated coverage on Old Republic International in a research note on Wednesday, May 17th. They set a “neutral” rating and a $27.00 price objective for the company. StockNews.com upgraded Old Republic International from a “hold” rating to a “buy” rating in a report on Tuesday, June 6th.
Old Republic International Trading Down 0.6 %
Old Republic International (NYSE:ORI – Free Report) last released its quarterly earnings data on Thursday, April 27th. The insurance provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.11. Old Republic International had a return on equity of 13.55% and a net margin of 7.60%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. As a group, equities research analysts expect that Old Republic International Co. will post 2.4 EPS for the current year.
Old Republic International Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Monday, June 5th were issued a $0.244 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, June 2nd. Old Republic International’s dividend payout ratio is presently 49.75%.
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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