M&T Bank Corp Lowers Position in Old Republic International Co. (NYSE:ORI)

M&T Bank Corp decreased its holdings in shares of Old Republic International Co. (NYSE:ORI) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,052,698 shares of the insurance provider’s stock after selling 48,049 shares during the period. M&T Bank Corp owned approximately 0.42% of Old Republic International worth $37,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Integrated Wealth Concepts LLC boosted its position in shares of Old Republic International by 0.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 83,723 shares of the insurance provider’s stock valued at $2,965,000 after acquiring an additional 315 shares during the last quarter. Financial Counselors Inc. lifted its position in Old Republic International by 3.8% during the second quarter. Financial Counselors Inc. now owns 9,270 shares of the insurance provider’s stock valued at $286,000 after purchasing an additional 340 shares during the last quarter. CIBC Asset Management Inc grew its stake in Old Republic International by 4.9% in 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. Raymond James Trust N.A. increased its holdings in shares of Old Republic International by 1.8% in the 3rd quarter. Raymond James Trust N.A. now owns 24,816 shares of the insurance provider’s stock worth $879,000 after buying an additional 429 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Old Republic International by 8.9% during the 2nd 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. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Price Performance

Shares of Old Republic International stock opened at $36.09 on Friday. The business’s 50-day moving average price is $36.77 and its 200-day moving average price is $34.49. The firm has a market capitalization of $9.15 billion, a PE ratio of 12.44 and a beta of 0.86. 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.

Old Republic International Announces Dividend

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

Analysts Set New Price Targets

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

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.