Old Republic International Co. (NYSE:ORI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its stake in shares of Old Republic International Co. (NYSE:ORI) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,618 shares of the insurance provider’s stock after selling 1,772 shares during the period. Maryland State Retirement & Pension System’s holdings in Old Republic International were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ORI. Janus Henderson Group PLC lifted its stake in Old Republic International by 5.9% during the third quarter. Janus Henderson Group PLC now owns 120,303 shares of the insurance provider’s stock valued at $4,262,000 after buying an additional 6,664 shares in the last quarter. Atomi Financial Group Inc. lifted its position in shares of Old Republic International by 4.1% in the 4th quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider’s stock valued at $279,000 after acquiring an additional 302 shares in the last quarter. Nisa Investment Advisors LLC lifted its position 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 acquiring an additional 19,400 shares in the last quarter. Orca Wealth Management LLC acquired a new position in Old Republic International in the 4th quarter worth approximately $5,209,000. Finally, JPMorgan Chase & Co. grew its position in Old Republic International by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 851,492 shares of the insurance provider’s stock worth $30,160,000 after purchasing an additional 42,934 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Carolyn Monroe sold 9,188 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total value of $333,983.80. Following the transaction, the senior vice president now owns 33,556 shares in the company, valued at approximately $1,219,760.60. This represents a 21.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Craig R. Smiddy sold 5,296 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the transaction, the chief executive officer now directly owns 138,222 shares in the company, valued at approximately $5,335,369.20. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,039 shares of company stock valued at $1,580,733 in the last three months. Insiders own 1.00% of the company’s stock.

Old Republic International Price Performance

Shares of ORI opened at $38.49 on Wednesday. The business’s 50-day moving average is $36.85 and its 200-day moving average is $36.35. 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 has a market capitalization of $9.55 billion, a price-to-earnings ratio of 14.63 and a beta of 0.83. Old Republic International Co. has a fifty-two week low of $28.59 and a fifty-two week high of $39.27.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) 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 research analysts expect that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.16 dividend on an annualized basis and a yield of 3.01%. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s payout ratio is 44.11%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

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.