Old Republic International Co. Announces Quarterly Dividend of $0.22 (NYSE:ORI)

Old Republic International Co. (NYSE:ORI) declared a quarterly dividend on Wednesday, November 24th, Zacks reports. Stockholders of record on Monday, December 6th will be paid a dividend of 0.22 per share by the insurance provider on Wednesday, December 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Friday, December 3rd.

Old Republic International has raised its dividend payment by 10.5% over the last three years and has increased its dividend every year for the last 12 years. Old Republic International has a payout ratio of 34.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Old Republic International to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 32.6%.

Shares of ORI opened at $25.85 on Thursday. Old Republic International has a 1 year low of $17.90 and a 1 year high of $26.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.52. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 5.43 and a beta of 0.86. The business has a 50-day moving average of $24.65 and a 200-day moving average of $25.16.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Wednesday, October 27th. The insurance provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.19. Old Republic International had a return on equity of 13.87% and a net margin of 15.78%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned $0.62 earnings per share. As a group, sell-side analysts anticipate that Old Republic International will post 2.9 EPS for the current year.

In other news, insider Aldo C. Zucaro sold 28,280 shares of the business’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $26.36, for a total transaction of $745,460.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Karl W. Mueller sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $26.28, for a total value of $1,182,600.00. Following the sale, the chief financial officer now owns 77,981 shares of the company’s stock, valued at approximately $2,049,340.68. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 1,326 shares of company stock valued at $33,664. 1.90% of the stock is currently owned by corporate insiders.

An institutional investor recently bought a new position in Old Republic International stock. OLD Mission Capital LLC bought a new stake in shares of Old Republic International Co. (NYSE:ORI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 34,822 shares of the insurance provider’s stock, valued at approximately $513,000. Institutional investors own 72.93% of the company’s stock.

ORI has been the subject of a number of analyst reports. Zacks Investment Research upgraded Old Republic International from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Wednesday, November 3rd. Raymond James lifted their target price on Old Republic International from $28.00 to $30.00 and gave the stock a “strong-buy” rating in a report on Monday, November 1st.

Old Republic International Company Profile

Old Republic International Corp. is a holding company, which engages in the business of insurance underwriting. It operates through the following segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group (RFIG) Run-off Business. The General Insurance segment involves in the provision of property and liability insurance to commercial clients.

Further Reading: What is the Stochastic Momentum Index (SMI)?

Dividend History for Old Republic International (NYSE:ORI)

Receive News & Ratings for Old Republic International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Republic International and related companies with MarketBeat.com's FREE daily email newsletter.