Point72 Hong Kong Ltd Invests $1.85 Million in Old Republic International Co. (NYSE:ORI)

Point72 Hong Kong Ltd acquired a new stake in Old Republic International Co. (NYSE:ORI) in the third quarter, Holdings Channel.com reports. The firm acquired 52,106 shares of the insurance provider’s stock, valued at approximately $1,846,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP boosted its holdings in Old Republic International by 161.9% in the 3rd quarter. Allworth Financial LP now owns 728 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 450 shares during the period. Mather Group LLC. raised its position in shares of Old Republic International by 201.0% in the second quarter. Mather Group LLC. now owns 894 shares of the insurance provider’s stock worth $27,000 after buying an additional 597 shares in the last quarter. Versant Capital Management Inc boosted its stake in Old Republic International by 555.6% during the second quarter. Versant Capital Management Inc now owns 885 shares of the insurance provider’s stock valued at $27,000 after buying an additional 750 shares during the period. Innealta Capital LLC purchased a new position in Old Republic International during the second quarter worth about $30,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Old Republic International in the 3rd quarter valued at about $31,000. Institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Performance

Old Republic International stock opened at $38.97 on Monday. Old Republic International Co. has a fifty-two week low of $27.19 and a fifty-two week high of $39.27. The firm’s fifty day moving average price is $36.26 and its 200-day moving average price is $33.96. The stock has a market cap of $9.88 billion, a P/E ratio of 13.44 and a beta of 0.84. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.28 and a current ratio of 0.28.

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, December 6th. Old Republic International’s dividend payout ratio (DPR) is currently 36.55%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their price objective on Old Republic International from $36.00 to $37.00 and gave the stock an “overweight” rating in a report 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.