Raymond James & Associates Increases Stake in Old Republic International Co. (NYSE:ORI)

Raymond James & Associates raised its position in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,072,899 shares of the insurance provider's stock after acquiring an additional 25,610 shares during the quarter. Raymond James & Associates owned approximately 0.39% of Old Republic International worth $38,002,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ORI. V Square Quantitative Management LLC purchased a new stake in Old Republic International in the third quarter worth $31,000. Versant Capital Management Inc lifted its position in Old Republic International by 555.6% during the 2nd quarter. Versant Capital Management Inc now owns 885 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 750 shares during the period. Mather Group LLC. boosted its stake in Old Republic International by 201.0% during the second quarter. Mather Group LLC. now owns 894 shares of the insurance provider's stock worth $27,000 after acquiring an additional 597 shares in the last quarter. Innealta Capital LLC purchased a new stake in Old Republic International in the second quarter worth about $30,000. Finally, Covestor Ltd increased its stake in shares of Old Republic International by 23.0% during the first quarter. Covestor Ltd now owns 1,937 shares of the insurance provider's stock valued at $59,000 after purchasing an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price objective on Old Republic International from $36.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday.

Old Republic International Stock Performance

NYSE ORI traded up $0.02 during trading hours on Wednesday, hitting $35.79. The company's stock had a trading volume of 1,064,802 shares, compared to its average volume of 1,443,705. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $9.25 billion, a P/E ratio of 15.03 and a beta of 0.84. The company's 50 day simple moving average is $35.32 and its two-hundred day simple moving average is $32.67. Old Republic International Co. has a 12 month low of $26.72 and a 12 month high of $36.50.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.15. Old Republic International had a net margin of 8.59% and a return on equity of 12.57%. The firm had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same period in the previous year, the company earned $0.62 earnings per share. As a group, sell-side analysts expect that Old Republic International Co. will post 2.83 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, September 16th. Investors of record on Friday, September 6th were given a dividend of $1.06 per share. This represents a yield of 3.05%. The ex-dividend date of this dividend was Friday, September 6th. Old Republic International's dividend payout ratio (DPR) is presently 44.54%.

Old Republic International Company 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.