Edgestream Partners L.P. Purchases New Shares in Old Republic International Co. (NYSE:ORI)

Edgestream Partners L.P. purchased a new position in shares of Old Republic International Co. (NYSE:ORI) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 224,864 shares of the insurance provider’s stock, valued at approximately $7,965,000.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Old Republic International by 161.9% during 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 in the last quarter. Mather Group LLC. boosted its position in 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 purchasing an additional 597 shares during the last quarter. Versant Capital Management Inc grew its stake in Old Republic International by 555.6% in the 2nd quarter. Versant Capital Management Inc now owns 885 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 750 shares during the period. Innealta Capital LLC purchased a new stake in shares of Old Republic International during the 2nd quarter valued at $30,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Old Republic International during the 3rd quarter worth $31,000. 70.92% of the stock is owned by institutional investors.

Old Republic International Stock Performance

Shares of ORI stock opened at $38.98 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.31. The firm 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 50 day moving average of $36.26 and a 200-day moving average of $33.93. Old Republic International Co. has a 12-month low of $27.19 and a 12-month high of $39.27.

Old Republic International Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price target 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.

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.