Old Republic International Co. to Issue Quarterly Dividend of $0.23 (NYSE:ORI)

Old Republic International Co. (NYSE:ORIGet Rating) declared a quarterly dividend on Wednesday, November 23rd, Zacks reports. Investors of record on Monday, December 5th will be paid a dividend of 0.23 per share by the insurance provider on Thursday, December 15th. This represents a $0.92 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Friday, December 2nd.

Old Republic International has increased its dividend by an average of 45.0% annually over the last three years and has increased its dividend every year for the last 40 years. Old Republic International has a dividend payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Old Republic International to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 43.8%.

Old Republic International Stock Up 0.1 %

Shares of ORI stock traded up $0.02 on Thursday, hitting $24.16. The stock had a trading volume of 875,595 shares, compared to its average volume of 1,744,795. Old Republic International has a one year low of $20.27 and a one year high of $27.19. The business has a 50 day moving average price of $22.64 and a 200 day moving average price of $22.68. The company has a market cap of $7.35 billion, a PE ratio of 9.22 and a beta of 0.81. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.28.

Institutional Trading of Old Republic International

Several large investors have recently made changes to their positions in ORI. B. Riley Wealth Advisors Inc. grew its position in Old Republic International by 17.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 17,814 shares of the insurance provider’s stock worth $374,000 after acquiring an additional 2,703 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Old Republic International in the third quarter valued at approximately $921,000. Neuberger Berman Group LLC grew its position in Old Republic International by 26.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 35,533 shares of the insurance provider’s stock worth $744,000 after purchasing an additional 7,408 shares during the last quarter. State Street Corp increased its stake in Old Republic International by 6.6% in the third quarter. State Street Corp now owns 25,907,464 shares of the insurance provider’s stock valued at $542,243,000 after purchasing an additional 1,601,571 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Old Republic International by 8.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 17,582 shares of the insurance provider’s stock worth $368,000 after buying an additional 1,382 shares during the last quarter. 72.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Old Republic International from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th.

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. The company operates through three segments: General Insurance, Title Insurance, and the Republic Financial Indemnity Group Run-off Business.

Further Reading

Dividend History for Old Republic International (NYSE:ORI)

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