Old Republic International Co. (NYSE:ORI) Short Interest Update

Old Republic International Co. (NYSE:ORI) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 2,970,000 shares, an increase of 16.5% from the November 15th total of 2,550,000 shares. Based on an average daily trading volume, of 1,130,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.3% of the shares of the company are sold short.

Old Republic International Price Performance

NYSE ORI traded down $0.68 during trading on Tuesday, reaching $36.82. 145,454 shares of the company traded hands, compared to its average volume of 1,387,059. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.28 and a current ratio of 0.28. The stock’s 50 day moving average price is $36.65 and its two-hundred day moving average price is $34.37. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 12.93 and a beta of 0.86. Old Republic International has a 1-year low of $27.19 and a 1-year high of $39.27.

Old Republic International Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, January 3rd. Old Republic International’s payout ratio is 36.55%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their target price 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.

Institutional Investors Weigh In On Old Republic International

A number of institutional investors have recently added to or reduced their stakes in ORI. SG Americas Securities LLC boosted its holdings in shares of Old Republic International by 309.6% in the 2nd quarter. SG Americas Securities LLC now owns 21,695 shares of the insurance provider’s stock worth $670,000 after acquiring an additional 16,399 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Old Republic International in the 2nd quarter worth approximately $241,000. Assenagon Asset Management S.A. bought a new position in Old Republic International in the 2nd quarter worth approximately $802,000. Blue Trust Inc. raised its position in Old Republic International by 218.3% in the 2nd quarter. Blue Trust Inc. now owns 3,463 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 2,375 shares during the last quarter. Finally, Raymond James & Associates raised its position in Old Republic International by 1.8% in the 2nd quarter. Raymond James & Associates now owns 1,047,289 shares of the insurance provider’s stock worth $32,361,000 after purchasing an additional 18,825 shares during the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

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.