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

Key Points

• Old Republic International Corporation announced a quarterly dividend of $0.29 per share, benefiting shareholders of record by September 5th, with a payment date set for September 15th.
• The company has a payout ratio of 33.5%, indicating sustainability of its dividend coverage, with expected earnings of $3.33 per share for the next year.
• Old Republic's stock has a market capitalization of $9.62 billion and recently reported a 10.1% year-over-year increase in quarterly revenue.

Old Republic International Corporation (NYSE:ORI - Get Free Report) declared a quarterly dividend on Friday, August 15th, RTT News reports. Shareholders of record on Friday, September 5th will be given a dividend of 0.29 per share by the insurance provider on Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 3.0%.

Old Republic International has a payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. 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 Up 0.1%

Shares of Old Republic International stock opened at $38.72 on Friday. Old Republic International has a twelve month low of $33.00 and a twelve month high of $39.84. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $37.17 and a 200-day moving average price of $37.34. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 13.26 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The business had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts anticipate 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, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the sale, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Old Republic International during the 2nd quarter valued at about $55,000. Boothbay Fund Management LLC purchased a new position in shares of Old Republic International during the second quarter valued at approximately $262,000. Brevan Howard Capital Management LP grew its stake in shares of Old Republic International by 14.8% during the second quarter. Brevan Howard Capital Management LP now owns 138,994 shares of the insurance provider's stock valued at $5,343,000 after buying an additional 17,904 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Old Republic International by 21.6% in the second quarter. Bank of America Corp DE now owns 570,966 shares of the insurance provider's stock worth $21,948,000 after buying an additional 101,606 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Old Republic International by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider's stock worth $221,457,000 after acquiring an additional 2,066,965 shares during the last quarter. Institutional investors own 70.92% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.