Old Republic International Corporation (NYSE:ORI) Shares to Pay Quarterly Dividend of $0.32

Old Republic International Corporation (NYSE:ORI) declared a quarterly dividend on Friday, November 13th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.3150 per share by the insurance provider on Tuesday, December 15th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, December 4th.

Old Republic International has increased its dividend 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 payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Old Republic International to earn $3.13 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 40.3%.

Old Republic International Trading Down 0.8%

Shares of NYSE:ORI traded down $0.34 during trading on Friday, reaching $39.70. 1,100,223 shares of the stock were exchanged, compared to its average volume of 1,639,641. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.29 and a current ratio of 0.29. Old Republic International has a 12-month low of $36.65 and a 12-month high of $46.76. The firm’s 50-day moving average price is $39.26 and its 200 day moving average price is $40.39. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 8.94 and a beta of 0.52.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, October 22nd. The insurance provider reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.06). The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.49 billion. Old Republic International had a return on equity of 12.13% and a net margin of 11.19%. During the same period in the previous year, the company earned $0.78 EPS. On average, sell-side analysts anticipate that Old Republic International will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Carolyn Monroe sold 4,386 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $42.01, for a total value of $184,255.86. Following the sale, the senior vice president directly owned 27,875 shares in the company, valued at approximately $1,171,028.75. The trade was a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.32% of the company’s stock.

Institutional Investors Weigh In On Old Republic International

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of Old Republic International during the second quarter worth about $491,660,000. Dimensional Fund Advisors LP increased its position in Old Republic International by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,721,774 shares of the insurance provider’s stock valued at $268,202,000 after purchasing an additional 60,395 shares during the period. First Trust Advisors LP grew its stake in Old Republic International by 2.2% in the third quarter. First Trust Advisors LP now owns 4,151,707 shares of the insurance provider’s stock valued at $154,900,000 after acquiring an additional 91,121 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Old Republic International by 31.4% in the first quarter. Quantinno Capital Management LP now owns 1,174,530 shares of the insurance provider’s stock valued at $46,864,000 after acquiring an additional 280,858 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its stake in shares of Old Republic International by 0.3% during the 3rd quarter. North Star Investment Management Corp. now owns 802,185 shares of the insurance provider’s stock valued at $29,930,000 after buying an additional 2,060 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

About Old Republic International

Old Republic International Corporation is an insurance holding company founded in 1923. Through its insurance subsidiaries, the company provides coverage primarily to businesses and other organizations, as well as title insurance services for real estate transactions. Its General Insurance business offers products including workers’ compensation, commercial automobile, general liability, property and other specialty coverages. Its Title Insurance business provides title policies and related services to homebuyers, businesses, lenders and other participants in residential and commercial real estate transactions.