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

Old Republic International Co. (NYSE:ORI - Get Free Report) 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 raised its dividend payment by an average of 5.3% annually over the last three years and has increased 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 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 Trading Up 0.9 %

ORI stock traded up $0.29 during midday trading on Friday, hitting $32.21. The stock had a trading volume of 1,028,336 shares, compared to its average volume of 1,925,641. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31. The firm has a market cap of $8.76 billion, a P/E ratio of 12.53 and a beta of 0.81. The business has a fifty day moving average price of $30.22 and a two-hundred day moving average price of $29.31. Old Republic International has a 1-year low of $24.17 and a 1-year high of $32.26.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.84 billion. On average, sell-side analysts predict that Old Republic International will post 2.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on ORI. Piper Sandler raised their price objective on shares of Old Republic International from $32.00 to $38.00 and gave the stock an "overweight" rating in a research report on Monday, April 1st. StockNews.com upgraded shares of Old Republic International from a "hold" rating to a "buy" rating in a report on Friday, April 26th.

Insiders Place Their Bets

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

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.