Brooklyn Investment Group Invests $48,000 in Old Republic International Co. (NYSE:ORI)

Brooklyn Investment Group bought a new position in shares of Old Republic International Co. (NYSE:ORI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,353 shares of the insurance provider’s stock, valued at approximately $48,000.

A number of other large investors have also modified their holdings of ORI. Dimensional Fund Advisors LP grew its holdings in shares of Old Republic International by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,542,836 shares of the insurance provider’s stock worth $233,073,000 after buying an additional 532,251 shares in the last quarter. Hamlin Capital Management LLC grew its holdings 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 purchasing an additional 379,474 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in shares of Old Republic International in the second quarter valued at about $10,641,000. Point72 Asset Management L.P. purchased a new stake in shares of Old Republic International in the second quarter valued at about $7,186,000. Finally, LSV Asset Management grew its holdings in shares of Old Republic International by 14.4% in the second quarter. LSV Asset Management now owns 1,838,307 shares of the insurance provider’s stock valued at $56,804,000 after purchasing an additional 231,600 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Performance

Shares of ORI opened at $38.98 on Friday. 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 Co. has a 12-month low of $27.19 and a 12-month high of $39.27. The firm has a 50-day moving average price of $36.26 and a 200 day moving average price of $33.93. The firm has a market capitalization of $9.88 billion, a P/E ratio of 13.44 and a beta of 0.84.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, December 6th will be given a $0.265 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.06 dividend on an annualized basis and a yield of 2.72%. Old Republic International’s payout ratio is currently 36.55%.

Analyst Ratings Changes

Separately, Piper Sandler upped their price objective 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.

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.