Old Republic International Co. (NYSE:ORI) Announces $0.29 Quarterly Dividend

Old Republic International Co. (NYSE:ORI - Get Free Report) announced a quarterly dividend on Friday, May 23rd, RTT News reports. Stockholders of record on Friday, June 6th will be paid a dividend of 0.29 per share by the insurance provider on Monday, June 16th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.11%.

Old Republic International has increased its dividend payment by an average of 6.4% per year over the last three years and has raised its dividend annually for the last 45 consecutive years. Old Republic International has a dividend payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Old Republic International to earn $3.33 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 34.8%.

Old Republic International Trading Down 0.9%

Shares of NYSE:ORI opened at $37.26 on Friday. The company's 50-day moving average price is $37.78 and its two-hundred day moving average price is $37.07. Old Republic International has a one year low of $29.51 and a one year high of $39.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The stock has a market capitalization of $9.21 billion, a PE ratio of 14.17 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. The company's quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts forecast that Old Republic International will post 3.17 EPS for the current fiscal year.

Insider Buying and Selling at Old Republic International

In related news, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the sale, the chief executive officer now owns 138,222 shares of the company's stock, valued at approximately $5,335,369.20. The trade was a 3.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas Dare sold 27,457 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the transaction, the vice president now owns 46,556 shares in the company, valued at approximately $1,699,294. This trade represents a 37.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,354 shares of company stock worth $1,602,871 over the last 90 days. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Old Republic International

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in Old Republic International by 10.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider's stock worth $62,480,000 after purchasing an additional 148,891 shares during the last quarter. NewEdge Advisors LLC increased its position in Old Republic International by 121.9% during the 1st quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider's stock worth $944,000 after buying an additional 13,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Old Republic International by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider's stock worth $477,000 after buying an additional 2,867 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Old Republic International by 122.1% in the first quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider's stock valued at $178,000 after acquiring an additional 2,493 shares during the period. Institutional investors own 70.92% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Raymond James set a $42.00 target price on shares of Old Republic International and gave the company an "outperform" rating in a research note on Monday, April 28th. Piper Sandler set a $42.00 price target on shares of Old Republic International in a research note on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Old Republic International from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

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.

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