M&T Bank Corp Sells 48,049 Shares of Old Republic International Co. (NYSE:ORI)

M&T Bank Corp decreased its holdings in Old Republic International Co. (NYSE:ORI - Free Report) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,052,698 shares of the insurance provider's stock after selling 48,049 shares during the period. M&T Bank Corp owned 0.42% of Old Republic International worth $37,287,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its holdings in shares of Old Republic International by 0.4% during the third quarter. Integrated Wealth Concepts LLC now owns 83,723 shares of the insurance provider's stock worth $2,965,000 after purchasing an additional 315 shares during the period. Financial Counselors Inc. increased its stake in Old Republic International by 3.8% during the 2nd quarter. Financial Counselors Inc. now owns 9,270 shares of the insurance provider's stock worth $286,000 after buying an additional 340 shares during the period. CIBC Asset Management Inc increased its holdings in Old Republic International by 4.9% in the second quarter. CIBC Asset Management Inc now owns 7,902 shares of the insurance provider's stock valued at $244,000 after buying an additional 371 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Old Republic International by 1.8% during the third quarter. Raymond James Trust N.A. now owns 24,816 shares of the insurance provider's stock worth $879,000 after purchasing an additional 429 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Old Republic International by 8.9% in the second quarter. Brown Brothers Harriman & Co. now owns 5,235 shares of the insurance provider's stock valued at $162,000 after purchasing an additional 430 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

NYSE ORI traded up $0.40 during trading on Friday, hitting $36.09. The company's stock had a trading volume of 4,370,105 shares, compared to its average volume of 1,405,874. The firm has a market cap of $9.15 billion, a P/E ratio of 12.44 and a beta of 0.86. Old Republic International Co. has a 52 week low of $27.19 and a 52 week high of $39.27. The firm has a 50 day moving average price of $36.77 and a 200 day moving average price of $34.49. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.31.

Old Republic International Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be issued 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%.

Analyst Upgrades and Downgrades

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

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.