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

Old Republic International Corporation (NYSE:ORI) declared a quarterly dividend on Friday, August 14th. Stockholders 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) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 4th.

Old Republic International has increased its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 45 consecutive years. Old Republic International has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.2%

Shares of Old Republic International stock opened at $42.84 on Friday. The company has a market capitalization of $10.34 billion, a P/E ratio of 10.13 and a beta of 0.58. The stock has a fifty day simple moving average of $41.29 and a 200 day simple moving average of $40.64. Old Republic International has a 12-month low of $36.65 and a 12-month high of $46.76. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.38.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Raymond James Financial set a $44.00 target price on shares of Old Republic International in a research report 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. Piper Sandler decreased their price objective on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Old Republic International in a research report on Wednesday, July 8th. One 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’s stock. According to MarketBeat, Old Republic International presently has an average rating of “Moderate Buy” and an average target price of $41.50.

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. 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.