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

Point72 Hong Kong Ltd bought a new position in Old Republic International Co. (NYSE:ORI - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 52,106 shares of the insurance provider's stock, valued at approximately $1,846,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ORI. Dimensional Fund Advisors LP increased its holdings in Old Republic International by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,542,836 shares of the insurance provider's stock worth $233,073,000 after acquiring an additional 532,251 shares in the last quarter. Hamlin Capital Management LLC increased its holdings in Old Republic International by 8.0% in the 3rd quarter. Hamlin Capital Management LLC now owns 5,134,096 shares of the insurance provider's stock worth $181,850,000 after acquiring an additional 379,474 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new stake in Old Republic International in the 2nd quarter worth approximately $10,641,000. Point72 Asset Management L.P. bought a new position in Old Republic International in the 2nd quarter worth approximately $7,186,000. Finally, LSV Asset Management boosted its stake 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 purchasing an additional 231,600 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Price Performance

Shares of NYSE ORI traded down $0.30 during midday trading on Monday, reaching $38.67. 217,366 shares of the stock traded hands, compared to its average volume of 1,404,203. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $9.81 billion, a PE ratio of 13.44 and a beta of 0.84. Old Republic International Co. has a one year low of $27.19 and a one year high of $39.27. The company's 50 day moving average is $36.26 and its 200 day moving average is $33.96.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be given a dividend of $0.265 per share. The ex-dividend date is Friday, December 6th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.74%. Old Republic International's dividend payout ratio is currently 36.55%.

Analyst Ratings Changes

Separately, Piper Sandler upped their price target on Old Republic International from $36.00 to $37.00 and gave the stock an "overweight" rating in a research note 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.