Old Republic International Co. (NYSE:ORI) declared a quarterly dividend on Thursday, February 22nd, RTT News reports. Investors of record on Monday, March 5th will be paid a dividend of 0.195 per share by the insurance provider on Thursday, March 15th. This represents a $0.78 dividend on an annualized basis and a yield of 3.86%. This is a boost from Old Republic International’s previous quarterly dividend of $0.19.
Old Republic International has raised its dividend payment by an average of 1.4% per year over the last three years and has increased its dividend every year for the last 36 years. Old Republic International has a dividend payout ratio of 65.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Old Republic International to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 41.1%.
Old Republic International (NYSE ORI) opened at $20.20 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.51 and a debt-to-equity ratio of 0.31. Old Republic International has a 52-week low of $17.92 and a 52-week high of $22.34. The company has a market cap of $5,389.57, a price-to-earnings ratio of 10.52 and a beta of 1.34.
Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, January 25th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Old Republic International had a net margin of 8.95% and a return on equity of 6.80%. Old Republic International’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 earnings per share. equities analysts predict that Old Republic International will post 1.7 EPS for the current year.
A number of brokerages have recently issued reports on ORI. JMP Securities raised shares of Old Republic International from a “market perform” rating to an “outperform” rating in a research report on Monday, February 12th. Zacks Investment Research cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Finally, Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $23.00 to $25.00 in a research report on Monday, October 30th.
In other news, VP Charles S. Boone sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $20.96, for a total value of $314,400.00. Following the completion of the sale, the vice president now owns 22,750 shares of the company’s stock, valued at $476,840. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO R Scott Rager sold 47,500 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $21.00, for a total transaction of $997,500.00. Following the sale, the chief operating officer now directly owns 40,000 shares of the company’s stock, valued at approximately $840,000. The disclosure for this sale can be found here. In the last three months, insiders sold 81,552 shares of company stock valued at $1,711,992. 2.00% of the stock is currently owned by company insiders.
About Old Republic International
Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.
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