Old Republic International Co. (NYSE:ORI) plans quarterly dividend of $0.23


Old Republic International Co. (NYSE: ORIGet a rating) declared a quarterly dividend on Friday, May 20, Zacks reports. Shareholders of record on Friday, June 3 will receive a dividend of 0.23 per share from the insurer on Wednesday, June 15. This represents an annualized dividend of $0.92 and a yield of 4.08%. The ex-dividend date is Thursday, June 2.

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

Actions of the former international republic opened at $22.53 on Friday. Old Republic International has a 12-month low of $21.50 and a 12-month high of $27.19. The stock has a market capitalization of $6.95 billion, a P/E ratio of 5.12 and a beta of 0.86. The company’s 50-day moving average is $24.26 and its two-hundred-day moving average is $24.98. The company has a debt ratio of 0.24, a current ratio of 0.53 and a quick ratio of 1.20.

Former International Republic (NYSE: ORIGet a rating) last released its results on Thursday, April 28. The insurance provider reported earnings per share (EPS) of $0.63 for the quarter, missing the consensus estimate of $0.70 per ($0.07). Old Republic International had a return on equity of 13.79% and a net margin of 14.56%. The company posted revenue of $2.06 billion in the quarter, versus analyst estimates of $2.08 billion. In the same period a year earlier, the company posted earnings of $0.69 per share. As a group, analysts expect Old Republic International to post EPS of 2.4 for the current year.

A number of research analysts have weighed in on ORI shares. Zacks Investment Research cut shares of Old Republic International from a “hold” rating to a “sell” rating in a Wednesday, May 4 research report. StockNews.com downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a Friday, April 29 research note. Finally, Raymond James downgraded shares of Old Republic International from a “strong buy” rating to an “outperform” rating and lowered his price target for the company from $30.00 to $28.00 in a note. research on Friday, April 29.

In other Old Republic International news, Director Barbara Adachi acquired 2,300 shares of the company in a transaction on Friday, March 18. The shares were purchased at an average price of $25.84 per share, with a total value of $59,432.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Also, director Steven R. Walker acquired 1,500 shares of the company in a transaction on Monday, May 2. The shares were acquired at an average cost of $21.59 per share, with a total value of $32,385.00. Following the acquisition, the director now owns 26,500 shares of the company, valued at $572,135. Disclosure of this purchase can be found here. In the past 90 days, insiders have purchased 4,095 shares of the company worth $99,404. Insiders hold 1.60% of the shares of the company.

Institutional investors and hedge funds have recently changed their positions in the company. Zions Bancorporation NA acquired a new position in shares of Old Republic International during the first quarter worth $59,000. Point72 Hong Kong Ltd increased its stake in Old Republic International by 153.2% in the first quarter. Point72 Hong Kong Ltd now owns 4,763 shares of the insurance provider worth $123,000 after buying an additional 2,882 shares during the period. Covestor Ltd increased its stake in Old Republic International to 90.4% in the first quarter. Covestor Ltd now owns 7,409 shares of the insurance provider worth $192,000 after buying 3,518 additional shares during the period. Quantamental Technologies LLC acquired a new stake in Old Republic International in the first quarter worth approximately $205,000. Finally, Prelude Capital Management LLC acquired a new stake in Old Republic International in the first quarter worth approximately $230,000. 78.43% of the shares are held by institutional investors.

About Old Republic International (Get a rating)

Old Republic International Corporation, through its subsidiaries, is engaged 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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