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

Weiss Asset Management LP purchased a new position in Old Republic International Co. (NYSE:ORI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,309 shares of the insurance provider's stock, valued at approximately $2,207,000.

Several other institutional investors and hedge funds have also bought and sold shares of ORI. Allworth Financial LP grew its position in shares of Old Republic International by 161.9% in the 3rd quarter. Allworth Financial LP now owns 728 shares of the insurance provider's stock worth $26,000 after buying an additional 450 shares during the period. V Square Quantitative Management LLC purchased a new stake in Old Republic International in the third quarter worth about $31,000. Mather Group LLC. increased its stake in shares of Old Republic International by 201.0% during the second quarter. Mather Group LLC. now owns 894 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 597 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Old Republic International during the second quarter valued at approximately $30,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Old Republic International in the 3rd quarter worth approximately $41,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Stock Down 0.9 %

ORI stock traded down $0.34 during trading on Friday, hitting $37.63. 940,566 shares of the stock traded hands, compared to its average volume of 974,285. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 12.98 and a beta of 0.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.28 and a quick ratio of 0.28. Old Republic International Co. has a 1 year low of $27.19 and a 1 year high of $39.27. The firm's 50 day moving average is $36.54 and its two-hundred day moving average is $34.17.

Old Republic International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be issued a $0.265 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.06 dividend on an annualized basis and a yield of 2.82%. Old Republic International's payout ratio is currently 36.55%.

Wall Street Analyst Weigh In

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