Maryland State Retirement & Pension System Sells 1,772 Shares of Old Republic International Co. (NYSE:ORI)

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

A number of other institutional investors also recently modified their holdings of ORI. Cerity Partners LLC raised its holdings in Old Republic International by 11.4% in the 3rd quarter. Cerity Partners LLC now owns 14,052 shares of the insurance provider’s stock worth $498,000 after acquiring an additional 1,434 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Old Republic International in the third quarter valued at about $1,025,000. DRW Securities LLC bought a new position in shares of Old Republic International in the third quarter worth about $348,000. Bank of Montreal Can increased its stake in shares of Old Republic International by 36.1% in the third quarter. Bank of Montreal Can now owns 63,083 shares of the insurance provider’s stock worth $2,232,000 after purchasing an additional 16,744 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Old Republic International during the 3rd quarter worth about $48,000. Institutional investors own 70.92% of the company’s stock.

Old Republic International Price Performance

NYSE:ORI opened at $38.49 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. Old Republic International Co. has a one year low of $28.59 and a one year high of $39.27. The company has a fifty day moving average price of $36.85 and a 200 day moving average price of $36.35. The stock has a market cap of $9.55 billion, a P/E ratio of 14.63 and a beta of 0.83.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, beating 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%. Analysts anticipate that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Old Republic International

In other news, CEO Craig R. Smiddy sold 5,296 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the transaction, the chief executive officer now directly owns 138,222 shares of the company’s stock, valued at approximately $5,335,369.20. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey Lange sold 1,098 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the sale, the senior vice president now directly owns 34,679 shares in the company, valued at approximately $1,267,864.24. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,039 shares of company stock valued at $1,580,733. 1.00% of the stock is owned by corporate insiders.

About Old Republic International

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.