Old Republic International Co. (NYSE:ORI) Sees Significant Increase in Short Interest

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

Analysts Set New Price Targets

Separately, Piper Sandler lifted their target price on shares of Old Republic International from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, October 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ORI. Allworth Financial LP increased its position in Old Republic International by 161.9% during the third quarter. Allworth Financial LP now owns 728 shares of the insurance provider’s stock worth $26,000 after buying an additional 450 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Old Republic International during the 3rd quarter worth $28,000. Innealta Capital LLC purchased a new position in Old Republic International during the 2nd quarter worth $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Old Republic International in the third quarter valued at about $31,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Old Republic International during the third quarter worth about $41,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Stock Down 2.4 %

NYSE ORI traded down $0.90 on Tuesday, hitting $36.60. 215,972 shares of the stock were exchanged, compared to its average volume of 1,387,308. The company has a market cap of $9.28 billion, a PE ratio of 12.68 and a beta of 0.86. The company has a 50-day moving average price of $36.70 and a 200-day moving average price of $34.41. Old Republic International has a fifty-two week low of $27.19 and a fifty-two week high of $39.27. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.31.

Old Republic International Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) 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.