Old Republic International Co. (NYSE:ORI) Announces Quarterly Dividend of $0.27

Old Republic International Co. (NYSE:ORI) announced a quarterly dividend on Friday, May 17th, Zacks reports. Stockholders of record on Tuesday, June 4th will be given a dividend of 0.265 per share by the insurance provider on Friday, June 14th. This represents a $1.06 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Tuesday, June 4th.

Old Republic International has increased its dividend payment by an average of 5.3% annually over the last three years and has raised its dividend every year for the last 44 years. Old Republic International has a dividend payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Old Republic International to earn $2.85 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 37.2%.

Old Republic International Stock Up 0.9 %

NYSE:ORI opened at $32.21 on Friday. The stock has a 50-day simple moving average of $30.15 and a 200 day simple moving average of $29.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27. Old Republic International has a one year low of $24.17 and a one year high of $32.26. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 12.54 and a beta of 0.81.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Old Republic International had a return on equity of 12.15% and a net margin of 9.52%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.84 billion. Sell-side analysts predict that Old Republic International will post 2.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ORI has been the subject of several recent research reports. Piper Sandler upped their target price on shares of Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. StockNews.com raised Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 26th.

Insider Activity at Old Republic International

In related news, Director Therace Risch acquired 6,086 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average cost of $29.77 per share, for a total transaction of $181,180.22. Following the completion of the acquisition, the director now directly owns 6,086 shares in the company, valued at approximately $181,180.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Carolyn Monroe sold 3,377 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $30.04, for a total value of $101,445.08. Following the completion of the transaction, the senior vice president now owns 33,556 shares of the company’s stock, valued at $1,008,022.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Therace Risch purchased 6,086 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were acquired at an average cost of $29.77 per share, for a total transaction of $181,180.22. Following the completion of the transaction, the director now directly owns 6,086 shares in the company, valued at $181,180.22. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

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.