Weiss Asset Management LP Acquires New Position in Old Republic International Co. (NYSE:ORI)

Weiss Asset Management LP purchased a new position in Old Republic International Co. (NYSE:ORI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 62,309 shares of the insurance provider’s stock, valued at approximately $2,207,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp grew its position in shares of Old Republic International by 1.4% in the 3rd quarter. Stifel Financial Corp now owns 34,906 shares of the insurance provider’s stock valued at $1,236,000 after buying an additional 495 shares during the last quarter. Systematic Financial Management LP boosted its position in shares of Old Republic International by 9.6% in the 3rd quarter. Systematic Financial Management LP now owns 882,782 shares of the insurance provider’s stock valued at $31,268,000 after purchasing an additional 77,583 shares during the period. Quantinno Capital Management LP grew its stake in Old Republic International by 8.5% during the 3rd quarter. Quantinno Capital Management LP now owns 139,177 shares of the insurance provider’s stock worth $4,930,000 after buying an additional 10,928 shares during the last quarter. Quarry LP acquired a new position in Old Republic International during the third quarter worth approximately $103,000. Finally, Redwood Investment Management LLC lifted its stake in Old Republic International by 4.1% in the third quarter. Redwood Investment Management LLC now owns 46,727 shares of the insurance provider’s stock valued at $1,653,000 after buying an additional 1,854 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Old Republic International Price Performance

Shares of ORI opened at $37.63 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 fifty-two week low of $27.19 and a fifty-two week high of $39.27. The firm has a 50-day simple moving average of $36.54 and a 200-day simple moving average of $34.17. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 12.98 and a beta of 0.86.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.06 annualized dividend and a dividend yield of 2.82%. Old Republic International’s dividend payout ratio (DPR) is currently 36.55%.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their target price on shares of 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 Company 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.