Retirement Systems of Alabama Acquires 330,776 Shares of Old Republic International Co. (NYSE:ORI)

Retirement Systems of Alabama boosted its position in Old Republic International Co. (NYSE:ORI) by 89.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 699,290 shares of the insurance provider’s stock after purchasing an additional 330,776 shares during the period. Retirement Systems of Alabama owned about 0.23% of Old Republic International worth $14,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Penserra Capital Management LLC acquired a new position in shares of Old Republic International in the 4th quarter valued at $29,000. Pearl River Capital LLC acquired a new position in shares of Old Republic International during the 4th quarter valued at $33,000. Clarfeld Financial Advisors LLC acquired a new position in shares of Old Republic International during the 4th quarter valued at $33,000. Omnia Family Wealth LLC acquired a new position in shares of Old Republic International during the 4th quarter valued at $34,000. Finally, Westside Investment Management Inc. lifted its holdings in shares of Old Republic International by 500.0% during the 4th quarter. Westside Investment Management Inc. now owns 2,400 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Several equities analysts recently weighed in on ORI shares. TheStreet lowered shares of Old Republic International from a “b” rating to a “c+” rating in a report on Thursday, January 24th. Zacks Investment Research upgraded shares of Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, April 25th.

Old Republic International stock traded up $0.26 during midday trading on Friday, hitting $22.32. 1,430,755 shares of the stock were exchanged, compared to its average volume of 1,451,873. Old Republic International Co. has a 1 year low of $19.55 and a 1 year high of $23.05. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 12.00 and a beta of 0.92. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.47 and a quick ratio of 0.46.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Old Republic International had a net margin of 11.87% and a return on equity of 10.66%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. Analysts forecast that Old Republic International Co. will post 1.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, June 3rd. Old Republic International’s payout ratio is currently 43.01%.

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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. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.

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Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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