Viking Fund Management LLC Raises Stake in Old Republic International Co. (NYSE:ORI)

Viking Fund Management LLC increased its stake in Old Republic International Co. (NYSE:ORI) by 71.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 206,000 shares of the insurance provider’s stock after acquiring an additional 86,000 shares during the quarter. Viking Fund Management LLC’s holdings in Old Republic International were worth $7,455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ORI. Hamlin Capital Management LLC increased its position in shares of 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 worth $181,850,000 after acquiring an additional 379,474 shares during the period. Point72 Asset Management L.P. grew its stake in Old Republic International by 162.4% in 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. Lighthouse Investment Partners LLC purchased a new position in Old Republic International during the 2nd quarter worth $10,641,000. Edgestream Partners L.P. bought a new stake in Old Republic International during the 3rd quarter valued at $7,965,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Old Republic International by 39.6% in the 3rd quarter. Franklin Resources Inc. now owns 454,792 shares of the insurance provider’s stock worth $16,209,000 after buying an additional 128,896 shares during the period. Institutional investors own 70.92% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised their target price on shares of Old Republic International from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 21st.

Old Republic International Trading Up 0.4 %

Shares of NYSE:ORI opened at $36.18 on Wednesday. The company has a market capitalization of $9.17 billion, a PE ratio of 12.47 and a beta of 0.88. 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 12-month low of $27.19 and a 12-month high of $39.27. The business’s fifty day simple moving average is $36.65 and its 200-day simple moving average is $35.28.

Old Republic International Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd were issued a $2.00 dividend. The ex-dividend date was Friday, January 3rd. Old Republic International’s dividend payout ratio is presently 36.55%.

Old Republic International 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.