Principal Financial Group Inc. Cuts Stock Holdings in Old Republic International Co. (NYSE:ORI)

Principal Financial Group Inc. cut its position in shares of Old Republic International Co. (NYSE:ORI) by 34.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 551,295 shares of the insurance provider’s stock after selling 290,492 shares during the period. Principal Financial Group Inc. owned 0.22% of Old Republic International worth $19,527,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Old Republic International by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,542,836 shares of the insurance provider’s stock valued at $233,073,000 after acquiring an additional 532,251 shares during the period. Hamlin Capital Management LLC grew its holdings in 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. LSV Asset Management increased its position 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 buying an additional 231,600 shares in the last quarter. Raymond James & Associates raised its stake in shares of Old Republic International by 2.4% during the 3rd quarter. Raymond James & Associates now owns 1,072,899 shares of the insurance provider’s stock worth $38,002,000 after buying an additional 25,610 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Old Republic International by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 1,033,320 shares of the insurance provider’s stock worth $31,930,000 after acquiring an additional 43,458 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased 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.

Old Republic International Trading Up 0.3 %

ORI stock opened at $36.73 on Friday. The business’s 50-day moving average is $36.80 and its 200 day moving average is $34.64. Old Republic International Co. has a 12-month low of $27.19 and a 12-month high of $39.27. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 12.67 and a beta of 0.86. 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 company also recently declared a special dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be given a dividend of $2.00 per share. The ex-dividend date is Friday, January 3rd. Old Republic International’s payout ratio 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.