Old Republic International Corporation (NYSE:ORI) Declares Quarterly Dividend of $0.32

Old Republic International Corporation (NYSE:ORI) announced a quarterly dividend on Friday, May 15th. Investors of record on Friday, June 5th will be given a dividend of 0.315 per share by the insurance provider on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, June 5th.

Old Republic International has raised its dividend by an average of 0.3%annually over the last three years and has increased its dividend annually for the last 45 consecutive years. Old Republic International has a payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Old Republic International to earn $3.18 per share next year, which means the company should continue to be able to cover its $1.26 annual dividend with an expected future payout ratio of 39.6%.

Old Republic International Stock Up 0.4%

Shares of NYSE ORI traded up $0.17 during mid-day trading on Friday, hitting $39.32. 1,073,949 shares of the stock traded hands, compared to its average volume of 1,801,377. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.23 and a current ratio of 0.23. Old Republic International has a 52 week low of $35.60 and a 52 week high of $46.76. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 10.54 and a beta of 0.63. The stock has a fifty day moving average price of $40.28 and a 200-day moving average price of $41.98.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts anticipate that Old Republic International will post 2.95 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Weiss Ratings downgraded Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, March 27th. Zacks Research downgraded Old Republic International from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Raymond James Financial set a $44.00 target price on Old Republic International in a report on Monday, April 27th. Finally, Piper Sandler boosted their target price on Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.