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

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

Old Republic International has increased its dividend payment by an average of 45.0% annually over the last three years and has increased its dividend annually for the last 40 consecutive years. Old Republic International has a payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.1 %

Shares of Old Republic International stock traded up $0.02 during trading on Thursday, hitting $24.16. The company’s stock had a trading volume of 875,595 shares, compared to its average volume of 1,744,795. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 9.22 and a beta of 0.81. The stock has a 50-day moving average price of $22.64 and a two-hundred day moving average price of $22.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.59 and a quick ratio of 0.59. Old Republic International has a 52 week low of $20.27 and a 52 week high of $27.19.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ORI. Mutual Advisors LLC lifted its holdings in shares of Old Republic International by 4.2% in the second quarter. Mutual Advisors LLC now owns 11,546 shares of the insurance provider’s stock valued at $258,000 after purchasing an additional 467 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Old Republic International by 2.3% in the 1st quarter. Panagora Asset Management Inc. now owns 21,388 shares of the insurance provider’s stock worth $553,000 after acquiring an additional 484 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Old Republic International by 1.2% in the second quarter. First Republic Investment Management Inc. now owns 49,413 shares of the insurance provider’s stock valued at $1,105,000 after purchasing an additional 583 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Old Republic International by 0.4% during the first quarter. Ameritas Investment Partners Inc. now owns 159,056 shares of the insurance provider’s stock valued at $4,114,000 after purchasing an additional 586 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Old Republic International by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 190,626 shares of the insurance provider’s stock worth $3,990,000 after purchasing an additional 820 shares during the last quarter. 72.27% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also

Dividend History for Old Republic International (NYSE:ORI)

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