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

Old Republic International Corporation (NYSE:ORI) declared a quarterly dividend on Friday, August 14th. Stockholders of record on Friday, September 4th will be paid 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 3.0%. The ex-dividend date is Friday, September 4th.

Old Republic International has raised its dividend by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 45 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 $3.22 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 0.1%

Shares of Old Republic International stock opened at $41.77 on Wednesday. The company’s fifty day simple moving average is $42.12 and its 200-day simple moving average is $40.79. The company has a market cap of $10.08 billion, a price-to-earnings ratio of 9.87 and a beta of 0.57. 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 has a 1 year low of $36.65 and a 1 year high of $46.76.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.03). Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the business posted $0.81 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Old Republic International will post 2.91 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Jeffrey Lange sold 14,075 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the sale, the senior vice president owned 12,244 shares of the company’s stock, valued at approximately $535,797.44. This trade represents a 53.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Carolyn Monroe sold 1,788 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $42.26, for a total value of $75,560.88. Following the completion of the transaction, the senior vice president directly owned 32,261 shares in the company, valued at $1,363,349.86. The trade was a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 28,988 shares of company stock valued at $1,268,458. 1.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in shares of Old Republic International during the second quarter worth $491,660,000. California State Teachers Retirement System increased its position in Old Republic International by 3,876.8% in the second quarter. California State Teachers Retirement System now owns 10,929,446 shares of the insurance provider’s stock worth $447,233,000 after purchasing an additional 10,654,615 shares during the period. GQG Partners LLC bought a new stake in Old Republic International during the 4th quarter worth about $155,960,000. Norges Bank bought a new stake in Old Republic International during the 4th quarter worth about $134,633,000. Finally, AQR Capital Management LLC lifted its position in Old Republic International by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after purchasing an additional 2,066,965 shares during the period. 70.92% of the stock is currently owned by institutional investors.

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.