Dynamic Technology Lab Private Ltd Purchases New Stake in Old Republic International Co. (NYSE:ORI)

Dynamic Technology Lab Private Ltd purchased a new position in Old Republic International Co. (NYSE:ORI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,930 shares of the insurance provider’s stock, valued at approximately $1,025,000.

A number of other hedge funds have also recently modified their holdings of the company. Financial Counselors Inc. lifted its stake in Old Republic International by 3.8% in the second quarter. Financial Counselors Inc. now owns 9,270 shares of the insurance provider’s stock worth $286,000 after acquiring an additional 340 shares during the period. CIBC Asset Management Inc lifted its position in shares of Old Republic International by 4.9% in the 2nd quarter. CIBC Asset Management Inc now owns 7,902 shares of the insurance provider’s stock worth $244,000 after purchasing an additional 371 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Old Republic International by 1.8% during the 3rd quarter. Raymond James Trust N.A. now owns 24,816 shares of the insurance provider’s stock valued at $879,000 after purchasing an additional 429 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Old Republic International by 8.9% in the second quarter. Brown Brothers Harriman & Co. now owns 5,235 shares of the insurance provider’s stock worth $162,000 after buying an additional 430 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Old Republic International by 161.9% in the third quarter. Allworth Financial LP now owns 728 shares of the insurance provider’s stock worth $26,000 after buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Old Republic International Stock Performance

Shares of Old Republic International stock opened at $38.99 on Thursday. Old Republic International Co. has a 12 month low of $27.19 and a 12 month high of $39.27. The firm has a market capitalization of $9.89 billion, a P/E ratio of 13.44 and a beta of 0.84. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $36.12 and a two-hundred day simple moving average of $33.84.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 is Friday, December 6th. Old Republic International’s payout ratio is currently 36.55%.

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.