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

M&T Bank Corp lessened its stake in shares of Old Republic International Co. (NYSE:ORI) by 4.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,052,698 shares of the insurance provider’s stock after selling 48,049 shares during the period. M&T Bank Corp’s holdings in Old Republic International were worth $37,287,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ORI. Allworth Financial LP raised its holdings in Old Republic International by 161.9% in 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 last quarter. V Square Quantitative Management LLC purchased a new position in Old Republic International in the 3rd quarter worth approximately $31,000. Innealta Capital LLC purchased a new position in Old Republic International in the 2nd quarter worth approximately $30,000. FSA Wealth Management LLC bought a new position in Old Republic International in the 3rd quarter valued at approximately $41,000. Finally, Huntington National Bank boosted its stake in Old Republic International by 381.0% during the 3rd quarter. Huntington National Bank now owns 1,289 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 1,021 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Old Republic International Price Performance

ORI opened at $37.13 on Tuesday. The company’s 50-day simple moving average is $36.58 and its two-hundred day simple moving average is $34.23. 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 has a market capitalization of $9.41 billion, a P/E ratio of 12.80 and a beta of 0.86. Old Republic International Co. has a 52-week low of $27.19 and a 52-week high of $39.27.

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.06 dividend on an annualized basis and a yield of 2.85%. Old Republic International’s dividend payout ratio (DPR) is 36.55%.

Wall Street Analyst Weigh In

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

Old Republic International 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.