Old Republic International Co. (NYSE:ORI) Declares Dividend Increase – $0.29 Per Share

Old Republic International Co. (NYSE:ORI) announced a quarterly dividend on Friday, February 28th, RTT News reports. Investors of record on Monday, March 10th will be given 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 yield of 3.01%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.27.

Old Republic International has increased its dividend by an average of 6.4% per year over the last three years and has raised its dividend every year for the last 44 years. Old Republic International has a payout ratio of 30.6% meaning its dividend is sufficiently covered by earnings. 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 $1.06 annual dividend with an expected future payout ratio of 31.8%.

Old Republic International Price Performance

ORI stock opened at $38.49 on Friday. Old Republic International has a 1 year low of $28.59 and a 1 year high of $39.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. The stock’s 50 day moving average price is $36.10 and its 200 day moving average price is $36.07. The firm has a market cap of $9.76 billion, a P/E ratio of 14.63 and a beta of 0.88.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. On average, sell-side analysts expect that Old Republic International will post 3.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 9,188 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 33,556 shares in the company, valued at approximately $1,219,760.60. The trade was a 21.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jeffrey Lange sold 1,098 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $36.56, for a total value of $40,142.88. Following the completion of the transaction, the senior vice president now owns 34,679 shares of the company’s stock, valued at $1,267,864.24. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.