M&T Bank Corp Sells 48,049 Shares of Old Republic International Co. (NYSE:ORI)

M&T Bank Corp lowered its stake in Old Republic International Co. (NYSE:ORI) by 4.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,052,698 shares of the insurance provider’s stock after selling 48,049 shares during the quarter. M&T Bank Corp’s holdings in Old Republic International were worth $37,287,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ORI. Dimensional Fund Advisors LP raised its holdings in Old Republic International by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,542,836 shares of the insurance provider’s stock valued at $233,073,000 after buying an additional 532,251 shares during the last quarter. Hamlin Capital Management LLC increased its position in shares of Old Republic International by 8.0% in the third quarter. Hamlin Capital Management LLC now owns 5,134,096 shares of the insurance provider’s stock valued at $181,850,000 after acquiring an additional 379,474 shares during the period. LSV Asset Management raised its stake in shares of Old Republic International by 14.4% during the second quarter. LSV Asset Management now owns 1,838,307 shares of the insurance provider’s stock valued at $56,804,000 after acquiring an additional 231,600 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Old Republic International by 2.4% during the third quarter. Raymond James & Associates now owns 1,072,899 shares of the insurance provider’s stock worth $38,002,000 after purchasing an additional 25,610 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Old Republic International by 4.4% in the second quarter. ProShare Advisors LLC now owns 1,033,320 shares of the insurance provider’s stock worth $31,930,000 after purchasing an additional 43,458 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Up 1.1 %

Shares of Old Republic International stock opened at $36.09 on Friday. The company’s fifty day simple moving average is $36.77 and its two-hundred day simple moving average is $34.49. Old Republic International Co. has a 12-month low of $27.19 and a 12-month high of $39.27. 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 company has a market cap of $9.15 billion, a P/E ratio of 12.44 and a beta of 0.86.

Old Republic International Dividend Announcement

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

Analyst Ratings Changes

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 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.