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

Old Republic International Co. (NYSE:ORI - Get Free Report) declared a quarterly dividend on Friday, May 23rd, RTT News reports. Investors 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 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, June 6th.

Old Republic International has raised its dividend payment by an average of 6.4% per year 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 33.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.9%

NYSE:ORI traded down $0.34 during mid-day trading on Wednesday, hitting $37.47. 422,198 shares of the company's stock were exchanged, compared to its average volume of 1,195,769. The company has a market cap of $9.26 billion, a PE ratio of 14.25 and a beta of 0.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. Old Republic International has a one year low of $29.51 and a one year high of $39.84. The business has a fifty day moving average price of $37.77 and a 200 day moving average price of $37.10.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. The firm had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.03 billion. The firm's quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts predict that Old Republic International will post 3.17 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Old Republic International

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

Institutional Investors Weigh In On Old Republic International

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

About Old Republic International

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.