1,852,839 Shares in Old Republic International Co. (NYSE:ORI) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Old Republic International Co. (NYSE:ORI) in the fourth quarter, Holdings Channel reports. The firm acquired 1,852,839 shares of the insurance provider’s stock, valued at approximately $67,054,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORI. Wilmington Savings Fund Society FSB acquired a new position in Old Republic International in the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. acquired a new position in Old Republic International in the 4th quarter worth approximately $34,000. Core Alternative Capital acquired a new position in Old Republic International in the 4th quarter worth approximately $36,000. Synergy Asset Management LLC acquired a new position in Old Republic International in the 4th quarter worth approximately $39,000. Finally, Crews Bank & Trust acquired a new position in Old Republic International in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analyst Upgrades and Downgrades

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

Old Republic International Trading Down 2.1 %

Shares of NYSE:ORI opened at $36.52 on Tuesday. The firm has a fifty day moving average of $36.24 and a two-hundred day moving average of $36.20. The firm has a market capitalization of $9.06 billion, a P/E ratio of 13.88 and a beta of 0.83. Old Republic International Co. has a 12-month low of $28.59 and a 12-month high of $39.27. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (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%. On average, equities analysts expect that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.18%. 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 44.11%.

Insider Buying and Selling at Old Republic International

In other news, SVP Jeffrey Lange sold 1,098 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $36.56, for a total transaction of $40,142.88. Following the transaction, the senior vice president now owns 34,679 shares in the company, valued at approximately $1,267,864.24. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Craig R. Smiddy sold 5,296 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 138,222 shares in the company, valued at $5,335,369.20. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,582 shares of company stock valued at $578,552 in the last quarter. Company insiders own 1.00% of the company’s stock.

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.