Raymond James Financial Inc. Purchases New Stake in Old Republic International Co. (NYSE:ORI)

Raymond James Financial Inc. bought a new position in Old Republic International Co. (NYSE:ORI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,852,839 shares of the insurance provider’s stock, valued at approximately $67,054,000. Raymond James Financial Inc. owned 0.73% of Old Republic International at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ORI. Wilmington Savings Fund Society FSB acquired a new stake in Old Republic International in the third quarter worth $28,000. SBI Securities Co. Ltd. acquired a new stake in Old Republic International in the fourth quarter worth $34,000. Core Alternative Capital acquired a new stake in Old Republic International in the fourth quarter worth $36,000. Synergy Asset Management LLC acquired a new stake in Old Republic International in the fourth quarter worth $39,000. Finally, Crews Bank & Trust acquired a new stake in Old Republic International in the fourth quarter worth $40,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Insider Activity at Old Republic International

In related news, CEO Craig R. Smiddy sold 5,296 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the sale, the chief executive officer now directly owns 138,222 shares in the company, valued at approximately $5,335,369.20. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Carolyn Monroe sold 9,188 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total transaction of $333,983.80. Following the sale, the senior vice president now owns 33,556 shares of the company’s stock, valued at $1,219,760.60. The trade was a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,582 shares of company stock worth $578,552 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Old Republic International Price Performance

NYSE ORI opened at $36.52 on Tuesday. Old Republic International Co. has a 12 month low of $28.59 and a 12 month high of $39.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The firm has a market capitalization of $9.06 billion, a PE ratio of 13.88 and a beta of 0.83. The company’s 50 day simple moving average is $36.24 and its 200 day simple moving average is $36.20.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. As a group, equities research analysts forecast that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Monday, March 10th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s dividend payout ratio (DPR) is currently 44.11%.

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.