Old Republic International Corporation (ORI) to Issue Quarterly Dividend of $0.32 on June 15th

Old Republic International Corporation (NYSE:ORI) declared a quarterly dividend on Friday, May 15th. Investors of record on Friday, June 5th will be given a dividend of 0.315 per share by the insurance provider on Monday, June 15th. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, June 5th.

Old Republic International has increased its dividend by an average of 0.3%annually over the last three years and has increased its dividend annually for the last 45 consecutive years. Old Republic International has a payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Old Republic International to earn $3.30 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 38.2%.

Old Republic International Stock Performance

Shares of NYSE:ORI opened at $37.19 on Wednesday. The stock has a market capitalization of $9.03 billion, a P/E ratio of 9.97 and a beta of 0.59. Old Republic International has a 1-year low of $35.60 and a 1-year high of $46.76. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $39.90 and a two-hundred day moving average price of $41.87.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 earnings per share. Equities analysts predict that Old Republic International will post 2.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James Financial set a $44.00 price target on Old Republic International in a research note on Monday, April 27th. Weiss Ratings cut Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. Zacks Research cut shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler upped their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Old Republic International Company Profile

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.