Old Republic International Corporation (NYSE:ORI) Shares Will Pay Quarterly Dividend of $0.32

Key Points

• Old Republic declared a quarterly dividend of $0.315 per share, payable December 15 to shareholders of record December 4. The annualized dividend is $1.26, yielding about 3.2%.
• The company has increased its dividend for 45 consecutive years. Its 36.4% payout ratio indicates the dividend is currently covered by earnings.
• Latest quarterly EPS of $0.73 missed analysts’ $0.79 consensus, while revenue of $2.55 billion topped expectations of $2.49 billion.

Old Republic International Corporation (NYSE:ORI - Get Free Report) declared a quarterly dividend on Friday, November 13th. Investors of record on Friday, December 4th will be paid a dividend of $0.3150 per share by the insurance provider on Tuesday, December 15th. This represents a $1.26 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, December 4th.

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 analysts expect Old Republic International to earn $3.13 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 40.3%.

Old Republic International Stock Down 0.8%

Shares of ORI traded down $0.34 during mid-day trading on Friday, reaching $39.70. The company's stock had a trading volume of 1,100,223 shares, compared to its average volume of 1,639,641. The business has a fifty day moving average of $39.26 and a 200 day moving average of $40.39. Old Republic International has a 1 year low of $36.65 and a 1 year high of $46.76. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 8.94 and a beta of 0.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.30.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The insurance provider reported $0.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.06). The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.49 billion. Old Republic International had a net margin of 11.19% and a return on equity of 12.13%. During the same quarter last year, the company earned $0.78 earnings per share. As a group, analysts forecast that Old Republic International will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ORI. Raymond James Financial lowered shares of Old Republic International from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $48.00 to $45.00 in a research note on Friday, October 23rd. Weiss Ratings lowered Old Republic International from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, September 18th. Finally, Piper Sandler lifted their price target on shares of Old Republic International from $39.00 to $42.00 and gave the company a "neutral" rating in a research report on Friday, October 23rd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Old Republic International has an average rating of "Moderate Buy" and an average price target of $43.50.

About Old Republic International

Old Republic International Corporation is an insurance holding company founded in 1923. Through its insurance subsidiaries, the company provides coverage primarily to businesses and other organizations, as well as title insurance services for real estate transactions. Its General Insurance business offers products including workers' compensation, commercial automobile, general liability, property and other specialty coverages. Its Title Insurance business provides title policies and related services to homebuyers, businesses, lenders and other participants in residential and commercial real estate transactions.

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