Old Republic International Co. (NYSE:ORI) Increases Dividend to $0.29 Per Share

Old Republic International Co. (NYSE:ORI - Get Free Report) announced a quarterly dividend on Friday, February 28th, RTT News reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.29 per share by the insurance provider on Thursday, March 20th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Monday, March 10th. This is a boost from Old Republic International's previous quarterly dividend of $0.27.

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 44 consecutive years. Old Republic International has a payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

ORI traded down $1.23 on Tuesday, reaching $37.47. The stock had a trading volume of 1,392,021 shares, compared to its average volume of 1,122,792. The business's 50-day moving average price is $36.15 and its two-hundred day moving average price is $36.11. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. Old Republic International has a 12-month low of $28.59 and a 12-month high of $39.27. The company has a market cap of $9.50 billion, a P/E ratio of 14.25 and a beta of 0.88.

Remove Ads

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Sell-side analysts forecast that Old Republic International will post 3.17 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com lowered Old Republic International from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th.

Insider Activity

In other news, SVP Carolyn Monroe sold 9,188 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total value of $333,983.80. Following the transaction, the senior vice president now owns 33,556 shares in the company, valued at $1,219,760.60. This trade represents a 21.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jeffrey Lange sold 1,098 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $36.56, for a total value of $40,142.88. Following the sale, the senior vice president now owns 34,679 shares of the company's stock, valued at $1,267,864.24. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% 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.