Old Republic International Co. (NYSE:ORI) declared a quarterly dividend on Wednesday, November 24th, Zacks reports. Investors 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 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 3rd.
Old Republic International has raised its dividend 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 dividend payout ratio of 34.2% meaning its dividend is sufficiently covered by earnings. 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. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.52 and a current ratio of 0.56. The stock has a 50 day simple moving average of $24.65 and a 200 day simple moving average of $25.16. Old Republic International has a 52-week low of $17.90 and a 52-week high of $26.69. The firm has a market capitalization of $7.94 billion, a PE ratio of 5.43 and a beta of 0.86.
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, beating the Thomson Reuters' 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 business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned $0.62 EPS. Equities research analysts predict that Old Republic International will post 2.9 EPS for the current fiscal year.
Several brokerages recently issued reports on ORI. 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 upped their price target on Old Republic International from $28.00 to $30.00 and gave the stock a "strong-buy" rating in a research report on Monday, November 1st.
In other news, CFO Karl W. Mueller sold 45,000 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $26.28, for a total value of $1,182,600.00. Following the completion of the sale, the chief financial officer now owns 77,981 shares of the company's stock, valued at approximately $2,049,340.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Aldo C. Zucaro sold 28,280 shares of the stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $26.36, for a total value of $745,460.80. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 1,326 shares of company stock valued at $33,664. Insiders own 1.90% of the company's stock.
A hedge fund recently bought a new stake in Old Republic International stock. OLD Mission Capital LLC purchased a new stake in Old Republic International Co. (NYSE:ORI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 34,822 shares of the insurance provider's stock, valued at approximately $513,000. Institutional investors and hedge funds own 72.93% of the company's stock.
About Old Republic International
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.
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