Point72 Asset Management L.P. Buys 377,605 Shares of Old Republic International Co. (NYSE:ORI)

Point72 Asset Management L.P. lifted its holdings in Old Republic International Co. (NYSE:ORI - Free Report) by 162.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 610,150 shares of the insurance provider's stock after purchasing an additional 377,605 shares during the period. Point72 Asset Management L.P. owned 0.24% of Old Republic International worth $21,612,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Old Republic International by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,542,836 shares of the insurance provider's stock worth $233,073,000 after buying an additional 532,251 shares during the period. Hamlin Capital Management LLC boosted its holdings in Old Republic International by 8.0% during the third quarter. Hamlin Capital Management LLC now owns 5,134,096 shares of the insurance provider's stock valued at $181,850,000 after acquiring an additional 379,474 shares during the period. LSV Asset Management increased its position in Old Republic International by 14.4% in the 2nd quarter. LSV Asset Management now owns 1,838,307 shares of the insurance provider's stock worth $56,804,000 after buying an additional 231,600 shares during the period. Raymond James & Associates lifted its position in shares of Old Republic International by 2.4% in the 3rd quarter. Raymond James & Associates now owns 1,072,899 shares of the insurance provider's stock worth $38,002,000 after acquiring an additional 25,610 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Old Republic International by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 1,033,320 shares of the insurance provider's stock worth $31,930,000 after buying an additional 43,458 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler increased their price objective 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.

Old Republic International Stock Down 0.9 %

Shares of ORI stock traded down $0.34 on Friday, hitting $37.63. 940,546 shares of the stock were exchanged, compared to its average volume of 1,396,783. The firm has a market capitalization of $9.54 billion, a P/E ratio of 12.98 and a beta of 0.86. Old Republic International Co. has a fifty-two week low of $27.19 and a fifty-two week high of $39.27. The business has a 50-day moving average of $36.54 and a 200 day moving average of $34.15. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.31.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, December 6th. Old Republic International's payout ratio is 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.