Old Republic International Corporation (NYSE:ORI) to Issue $0.32 Quarterly Dividend

Old Republic International Corporation (NYSE:ORIGet Free Report) declared a quarterly dividend on Friday, August 14th. Shareholders of record on Friday, September 4th will be given a dividend of 0.315 per share by the insurance provider on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 4th.

Old Republic International has raised its dividend payment by an average of 0.3%per year over the last three years and has increased its dividend every year for the last 45 years. Old Republic International has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Old Republic International to earn $3.22 per share next year, which means the company should continue to be able to cover its $1.26 annual dividend with an expected future payout ratio of 39.1%.

Old Republic International Stock Performance

Shares of ORI traded up $0.08 during midday trading on Friday, reaching $42.84. 746,135 shares of the stock were exchanged, compared to its average volume of 1,660,658. Old Republic International has a twelve month low of $36.65 and a twelve month high of $46.76. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.38. The company has a market cap of $10.34 billion, a P/E ratio of 10.13 and a beta of 0.58. The stock’s 50 day simple moving average is $41.20 and its 200 day simple moving average is $40.62.

Old Republic International (NYSE:ORIGet Free Report) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). Old Republic International had a return on equity of 15.41% and a net margin of 11.71%.The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the business posted $0.81 earnings per share. Old Republic International’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Old Republic International will post 2.91 earnings per share for the current year.

Analysts Set New Price Targets

ORI has been the topic of several recent research reports. Piper Sandler lowered their target price on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Raymond James Financial set a $44.00 price target on Old Republic International in a research note on Monday, April 27th. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Republic International in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.50.

Check Out Our Latest Research Report on ORI

About Old Republic International

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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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

Further Reading

Dividend History for Old Republic International (NYSE:ORI)

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