Old Republic stock (ORI:NYE), short interest decreased by 18.0% in January, with 3,190,000 shares short as of January 31st, compared to 3,890,000 shares short on January 15th. Presently, only 1.1% of the company’s shares are being sold short. With a daily average volume of 1,430,000 shares, the short-interest ratio is 2.2 days.
Hedge Funds & Institutional Holdings:
Institutional investors and hedge funds, who collectively hold 70.87%of the company’s stock, have recently rebalanced their holdings.
Belpointe Asset Management LLC acquired a new stake in Old Republic International for approximately $28,000 during the fourth quarter.
In the third quarter, TCI Wealth Advisors Inc. grew its holdings by 212.2%, purchasing an additional 853 shares for a total of 1,255 shares worth $26,000.
Ronald Blue Trust Inc. increased its Old Republic International holdings by 468.9% during the third quarter, acquiring an additional 1,238 shares for a total of 1,502 shares worth $34,000.
Atlas Capital Advisors LLC acquired a $34,000 position in Old Republic International during the second quarter, while Eagle Bay Advisors LLC acquired a $38,000 position during the same time frame.
Old Republic Stock-Analyst Ratings:
In a research note issued January 30th, Raymond James increased their price target from $27.00 to $29.00 and assigned a “outperform” rating.
Gain of 1.2% for Old Republic Stock:
ORI shares opened on Monday at $26.35, with a market capitalization of $8.02 billion, a P/E ratio of 11.51, and a beta of 0.81. The 1-year low price for the company is $20.27 and the 1-year high price is $27.19.
The debt-to-equity ratio is 0.26, while the current ratio is 1.33 and the quick ratio is 0.59. The 50-day simple moving average is $24.62, and the 200-day simple moving average is $23.50.
Old Republic Announces Dividend Reduction:
On December 15th, the company just declared and paid a quarterly dividend. On December 5th, shareholders of record received a dividend of $0.23 per share, reflecting an annualized yield of 3.49% and a payout ratio of 40.17%. The ex-dividend date was December 2.
Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance, Title Insurance, and the Republic Financial Indemnity Group Run-off Business. The company was founded in 1923 and is based in Chicago, Illinois.