Old Republic International Corporation $ORI Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Old Republic International Corporation by 9.7% in the first quarter, owning about 0.82% of the company worth approximately $79.7 million.
• Old Republic International reported an earnings per share (EPS) of $0.83, beating estimates, and had revenue of $2.21 billion for the quarter, which represents a 10.1% year-over-year growth.
• The company announced a quarterly dividend of $0.29 per share, with a yield of 3.0%, to be paid to shareholders on September 15th.

Raymond James Financial Inc. grew its holdings in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 9.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,032,093 shares of the insurance provider's stock after buying an additional 179,254 shares during the quarter. Raymond James Financial Inc. owned 0.82% of Old Republic International worth $79,699,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ORI. HWG Holdings LP bought a new position in shares of Old Republic International during the first quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new position in Old Republic International in the first quarter worth approximately $31,000. Wayfinding Financial LLC bought a new position in Old Republic International in the first quarter worth approximately $34,000. N.E.W. Advisory Services LLC bought a new position in Old Republic International in the first quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. bought a new position in Old Republic International in the first quarter worth approximately $36,000. Institutional investors own 70.92% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Raymond James Financial set a $42.00 price objective on Old Republic International and gave the stock an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen cut Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Piper Sandler decreased their price objective on Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $41.50.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the transaction, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company's stock.

Old Republic International Stock Performance

ORI stock traded up $0.5170 during midday trading on Friday, reaching $39.9170. The stock had a trading volume of 1,228,701 shares, compared to its average volume of 1,403,902. The stock has a market cap of $9.92 billion, a PE ratio of 13.67 and a beta of 0.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a fifty day simple moving average of $37.42 and a two-hundred day simple moving average of $37.44. Old Republic International Corporation has a 52-week low of $33.00 and a 52-week high of $40.20.

Old Republic International (NYSE:ORI - Get Free Report) last issued its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The business's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.9%. Old Republic International's dividend payout ratio (DPR) is presently 39.73%.

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.