Point72 DIFC Ltd Acquires Shares of 29,385 Old Republic International Co. (NYSE:ORI)

Point72 DIFC Ltd bought a new position in Old Republic International Co. (NYSE:ORI) in the 3rd quarter, Holdings Channel.com reports. The firm bought 29,385 shares of the insurance provider’s stock, valued at approximately $1,041,000.

Several other institutional investors and hedge funds also recently modified their holdings of ORI. Point72 Asset Management L.P. lifted its position in shares of Old Republic International by 162.4% during the third quarter. Point72 Asset Management L.P. now owns 610,150 shares of the insurance provider’s stock worth $21,612,000 after purchasing an additional 377,605 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Old Republic International by 0.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 83,723 shares of the insurance provider’s stock worth $2,965,000 after buying an additional 315 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Old Republic International by 17.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 118,681 shares of the insurance provider’s stock valued at $4,204,000 after buying an additional 17,525 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Old Republic International by 5.9% during the third quarter. Janus Henderson Group PLC now owns 120,303 shares of the insurance provider’s stock valued at $4,262,000 after acquiring an additional 6,664 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Old Republic International by 3.1% during the third quarter. HighTower Advisors LLC now owns 49,609 shares of the insurance provider’s stock worth $1,767,000 after acquiring an additional 1,476 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Up 0.1 %

ORI stock opened at $38.25 on Friday. The company has a market capitalization of $9.70 billion, a P/E ratio of 13.19 and a beta of 0.86. The firm has a 50 day simple moving average of $36.50 and a 200-day simple moving average of $34.11. 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 Co. has a twelve month low of $27.19 and a twelve month high of $39.27.

Old Republic International Dividend Announcement

The business 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 $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, December 6th. Old Republic International’s payout ratio is currently 36.55%.

Analyst Ratings Changes

Separately, Piper Sandler increased their price target on Old Republic International from $36.00 to $37.00 and gave the company 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.