HM Payson & Co. Acquires New Stake in Old Republic International Co. (NYSE:ORI)

HM Payson & Co. acquired a new stake in Old Republic International Co. (NYSE:ORI) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 3,214 shares of the insurance provider’s stock, valued at approximately $114,000.

A number of other large investors also recently bought and sold shares of the company. Financial Counselors Inc. increased its stake in shares of Old Republic International by 3.8% during 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. Covestor Ltd increased its position in Old Republic International by 23.0% during the 1st quarter. Covestor Ltd now owns 1,937 shares of the insurance provider’s stock worth $59,000 after purchasing an additional 362 shares during the period. CIBC Asset Management Inc raised its stake in shares of Old Republic International by 4.9% during the 2nd quarter. CIBC Asset Management Inc now owns 7,902 shares of the insurance provider’s stock worth $244,000 after buying an additional 371 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Old Republic International by 5.2% in the 1st quarter. EP Wealth Advisors LLC now owns 7,762 shares of the insurance provider’s stock valued at $238,000 after buying an additional 387 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of 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 valued at $162,000 after buying an additional 430 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

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

Old Republic International Stock Down 1.2 %

Shares of NYSE ORI opened at $34.52 on Friday. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 11.90 and a beta of 0.84. Old Republic International Co. has a 52 week low of $27.19 and a 52 week high of $36.50. The firm has a 50-day moving average price of $35.39 and a 200 day moving average price of $32.88. The company has a quick ratio of 0.29, a current ratio of 0.64 and a debt-to-equity ratio of 0.31.

Old Republic International Dividend Announcement

The business also recently declared an annual dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, September 6th were given a dividend of $1.06 per share. The ex-dividend date was Friday, September 6th. This represents a dividend yield of 3.05%. Old Republic International’s payout ratio is 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.