First Eagle Investment Management LLC Has $16.93 Million Stake in Old Republic International Co. (NYSE:ORI)

First Eagle Investment Management LLC raised its stake in shares of Old Republic International Co. (NYSE:ORI) by 3.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 467,785 shares of the insurance provider’s stock after purchasing an additional 17,600 shares during the period. First Eagle Investment Management LLC’s holdings in Old Republic International were worth $16,929,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in Old Republic International during the 4th quarter valued at about $67,054,000. Systematic Financial Management LP boosted its stake in Old Republic International by 9.6% during the 3rd quarter. Systematic Financial Management LP now owns 882,782 shares of the insurance provider’s stock valued at $31,268,000 after purchasing an additional 77,583 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Old Republic International by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 851,492 shares of the insurance provider’s stock valued at $30,160,000 after purchasing an additional 42,934 shares during the last quarter. Boston Financial Mangement LLC boosted its stake in Old Republic International by 1.2% during the 4th quarter. Boston Financial Mangement LLC now owns 785,190 shares of the insurance provider’s stock valued at $28,416,000 after purchasing an additional 9,011 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Old Republic International by 162.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 610,150 shares of the insurance provider’s stock valued at $21,612,000 after purchasing an additional 377,605 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Old Republic International Price Performance

Old Republic International stock opened at $36.57 on Friday. Old Republic International Co. has a 52 week low of $28.59 and a 52 week high of $39.27. The company’s 50 day moving average price is $36.27 and its two-hundred day moving average price is $36.21. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The stock has a market cap of $9.08 billion, a P/E ratio of 13.90 and a beta of 0.83.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate 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 predict that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Monday, March 10th. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s payout ratio is 44.11%.

Insider Buying and Selling

In related news, VP Thomas Dare sold 27,457 shares of Old Republic International stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the sale, the vice president now owns 46,556 shares of the company’s stock, valued at approximately $1,699,294. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction that occurred on Monday, March 3rd. The stock was 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 $5,335,369.20. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,039 shares of company stock valued at $1,580,733. 0.78% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.