Retirement Systems of Alabama Lowers Stock Holdings in Old Republic International Co. (NYSE:ORI)

Retirement Systems of Alabama lessened its stake in shares of Old Republic International Co. (NYSE:ORI) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 616,588 shares of the insurance provider’s stock after selling 23,135 shares during the quarter. Retirement Systems of Alabama owned about 0.24% of Old Republic International worth $21,840,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC raised its position in Old Republic International by 309.6% during the 2nd quarter. SG Americas Securities LLC now owns 21,695 shares of the insurance provider’s stock worth $670,000 after buying an additional 16,399 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Old Republic International during the second quarter worth about $241,000. Assenagon Asset Management S.A. acquired a new stake in Old Republic International in the second quarter valued at about $802,000. Blue Trust Inc. boosted its holdings in Old Republic International by 218.3% in the 2nd quarter. Blue Trust Inc. now owns 3,463 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 2,375 shares in the last quarter. Finally, Raymond James & Associates increased its position in Old Republic International by 1.8% during the 2nd quarter. Raymond James & Associates now owns 1,047,289 shares of the insurance provider’s stock worth $32,361,000 after purchasing an additional 18,825 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price target on Old Republic International from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, October 21st.

Old Republic International Price Performance

Shares of NYSE ORI opened at $36.79 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.28 and a current ratio of 0.28. Old Republic International Co. has a one year low of $27.19 and a one year high of $39.27. The firm has a market capitalization of $9.33 billion, a P/E ratio of 12.69 and a beta of 0.86. The company’s fifty day moving average is $36.65 and its two-hundred day moving average is $34.35.

Old Republic International Dividend Announcement

The business also recently announced a special dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be given a dividend of $2.00 per share. The ex-dividend date is Friday, January 3rd. Old Republic International’s payout ratio is currently 36.55%.

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.