Verition Fund Management LLC Purchases New Position in Old Republic International Co. (NYSE:ORI)

Verition Fund Management LLC acquired a new stake in Old Republic International Co. (NYSE:ORI) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 15,828 shares of the insurance provider’s stock, valued at approximately $561,000.

Several other institutional investors have also added to or reduced their stakes in the business. Capstone Investment Advisors LLC bought a new position in shares of Old Republic International during the third quarter valued at $273,000. Rockefeller Capital Management L.P. purchased a new position in Old Republic International in the 3rd quarter worth about $378,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Old Republic International by 1.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,701 shares of the insurance provider’s stock worth $2,185,000 after buying an additional 968 shares during the last quarter. Providence Capital Advisors LLC boosted its holdings in shares of Old Republic International by 0.7% during the 3rd quarter. Providence Capital Advisors LLC now owns 98,791 shares of the insurance provider’s stock valued at $3,499,000 after acquiring an additional 671 shares during the last quarter. Finally, Bridgewater Associates LP boosted its holdings in shares of Old Republic International by 103.7% during the 3rd quarter. Bridgewater Associates LP now owns 162,591 shares of the insurance provider’s stock valued at $5,759,000 after acquiring an additional 82,772 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

Shares of ORI opened at $35.98 on Wednesday. The firm has a market capitalization of $9.12 billion, a P/E ratio of 12.41 and a beta of 0.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.28 and a quick ratio of 0.28. Old Republic International Co. has a one year low of $27.19 and a one year high of $39.27. The business has a fifty day moving average of $36.59 and a 200 day moving average of $34.26.

Old Republic International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, December 6th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, December 6th. Old Republic International’s payout ratio is currently 36.55%.

Analysts Set New Price Targets

Separately, Piper Sandler increased their price objective 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 Company 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.