Franklin Resources Inc. Acquires 128,896 Shares of Old Republic International Co. (NYSE:ORI)

Franklin Resources Inc. raised its holdings in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 39.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 454,792 shares of the insurance provider's stock after acquiring an additional 128,896 shares during the period. Franklin Resources Inc. owned approximately 0.18% of Old Republic International worth $16,209,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Synovus Financial Corp raised its stake in Old Republic International by 4.5% during the 3rd quarter. Synovus Financial Corp now owns 13,274 shares of the insurance provider's stock worth $470,000 after buying an additional 573 shares during the period. Destination Wealth Management bought a new stake in Old Republic International during the 3rd quarter worth about $217,000. Wilmington Savings Fund Society FSB acquired a new position in Old Republic International during the third quarter valued at approximately $28,000. World Investment Advisors LLC bought a new position in shares of Old Republic International in the 3rd quarter valued at about $531,000. Finally, Sanctuary Advisors LLC boosted its position in Old Republic International by 0.7% during the third quarter. Sanctuary Advisors LLC now owns 120,122 shares of the insurance provider's stock worth $4,637,000 after purchasing an additional 816 shares during the period. Institutional investors and hedge funds own 70.92% of the company's stock.

Wall Street Analyst Weigh In

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

Old Republic International Stock Up 1.1 %

ORI traded up $0.40 during midday trading on Friday, reaching $36.09. 4,370,105 shares of the company were exchanged, compared to its average volume of 1,405,874. Old Republic International Co. has a one year low of $27.19 and a one year high of $39.27. The company's fifty day moving average price is $36.77 and its 200 day moving average price is $34.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 12.44 and a beta of 0.86.

Old Republic International Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend payout ratio is presently 36.55%.

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.