Point72 Hong Kong Ltd Makes New Investment in Old Republic International Co. (NYSE:ORI)

Point72 Hong Kong Ltd bought a new stake in Old Republic International Co. (NYSE:ORI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 52,106 shares of the insurance provider’s stock, valued at approximately $1,846,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ORI. Allworth Financial LP grew its stake in Old Republic International by 161.9% in the 3rd quarter. Allworth Financial LP now owns 728 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 450 shares during the period. V Square Quantitative Management LLC bought a new position in Old Republic International during the third quarter valued at about $31,000. Versant Capital Management Inc grew its position in Old Republic International by 555.6% during the second quarter. Versant Capital Management Inc now owns 885 shares of the insurance provider’s stock valued at $27,000 after buying an additional 750 shares during the period. Mather Group LLC. raised its position in Old Republic International by 201.0% in the second quarter. Mather Group LLC. now owns 894 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 597 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Old Republic International during the 2nd quarter valued at approximately $30,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Down 0.0 %

ORI stock opened at $38.97 on Monday. The stock has a fifty day moving average of $36.26 and a 200-day moving average of $33.96. Old Republic International Co. has a fifty-two week low of $27.19 and a fifty-two week high of $39.27. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of 13.44 and a beta of 0.84. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be paid a $0.265 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.06 annualized dividend and a dividend yield of 2.72%. Old Republic International’s payout ratio is 36.55%.

Analyst Upgrades and Downgrades

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

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.