Old Republic International Co. (NYSE:ORI) to Issue Quarterly Dividend of $0.23

Old Republic International Co. (NYSE:ORIGet Rating) declared a quarterly dividend on Friday, May 20th, Zacks reports. Investors of record on Friday, June 3rd will be paid a dividend of 0.23 per share by the insurance provider on Wednesday, June 15th. This represents a $0.92 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Thursday, June 2nd.

Old Republic International has increased its dividend by an average of 45.0% per year over the last three years and has increased its dividend every year for the last 42 years. Old Republic International has a dividend payout ratio of 35.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Old Republic International to earn $2.50 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 36.8%.

ORI opened at $22.53 on Friday. The company has a current ratio of 0.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.24. Old Republic International has a 1-year low of $21.50 and a 1-year high of $27.19. The company has a market capitalization of $6.95 billion, a PE ratio of 5.12 and a beta of 0.86. The firm’s 50 day simple moving average is $24.26 and its two-hundred day simple moving average is $24.98.

Old Republic International (NYSE:ORIGet Rating) last released its quarterly earnings results on Thursday, April 28th. The insurance provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.07). Old Republic International had a return on equity of 13.79% and a net margin of 14.56%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the business posted $0.69 earnings per share. Equities analysts forecast that Old Republic International will post 2.4 earnings per share for the current fiscal year.

In other Old Republic International news, Director Steven R. Walker acquired 1,500 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was acquired at an average cost of $21.59 per share, with a total value of $32,385.00. Following the purchase, the director now directly owns 26,500 shares of the company’s stock, valued at approximately $572,135. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barbara Adachi acquired 2,300 shares of the company’s stock in a transaction on Friday, March 18th. The stock was acquired at an average cost of $25.84 per share, with a total value of $59,432.00. The disclosure for this purchase can be found here. Insiders have purchased 4,095 shares of company stock valued at $99,404 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of ORI. OLD Mission Capital LLC purchased a new position in shares of Old Republic International in the 3rd quarter worth $513,000. Morgan Stanley lifted its holdings in shares of Old Republic International by 23.9% in the 2nd quarter. Morgan Stanley now owns 1,378,275 shares of the insurance provider’s stock worth $34,333,000 after acquiring an additional 265,807 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of Old Republic International by 4.0% in the 4th quarter. Synovus Financial Corp now owns 14,608 shares of the insurance provider’s stock worth $355,000 after acquiring an additional 558 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Old Republic International by 20.5% in the 4th quarter. Stifel Financial Corp now owns 76,471 shares of the insurance provider’s stock worth $1,879,000 after acquiring an additional 12,993 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Old Republic International by 95.5% in the 4th quarter. Sei Investments Co. now owns 20,552 shares of the insurance provider’s stock worth $509,000 after acquiring an additional 10,038 shares during the last quarter. 78.43% of the stock is owned by institutional investors and hedge funds.

ORI has been the subject of a number of analyst reports. Raymond James cut shares of Old Republic International from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $30.00 to $28.00 in a research note on Friday, April 29th. StockNews.com cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Finally, Zacks Investment Research cut shares of Old Republic International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th.

About Old Republic International (Get Rating)

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance, Title Insurance, and the Republic Financial Indemnity Group Run-off Business.

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Dividend History for Old Republic International (NYSE:ORI)

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