Old Republic International (NYSE:ORI) Reaches New 12-Month High After Dividend Announcement (2024)

Shares of Old Republic International Co. (NYSE:ORI – Get Free Report) reached a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as $32.26 and last traded at $32.06, with a volume of 30085 shares changing hands. The stock had previously closed at $32.21.

The newly announced dividend which will be paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, June 3rd. Old Republic International’s dividend payout ratio (DPR) is currently 41.25%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 26th.

View Our Latest Report on ORI

Old Republic International Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27. The firm’s 50 day moving average is $30.27 and its 200-day moving average is $29.36. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 12.40 and a beta of 0.81.

Old Republic International (NYSE:ORI – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. Old Republic International had a net margin of 9.52% and a return on equity of 12.15%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.84 billion. Sell-side analysts anticipate that Old Republic International Co. will post 2.73 earnings per share for the current fiscal year.

Insider Activity at Old Republic International

In other Old Republic International news, Director Therace Risch acquired 6,086 shares of Old Republic International stock in a transaction that occurred on Tuesday, April 30th. The stock was acquired at an average price of $29.77 per share, with a total value of $181,180.22. Following the purchase, the director now owns 6,086 shares in the company, valued at $181,180.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Therace Risch bought 6,086 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was purchased at an average price of $29.77 per share, with a total value of $181,180.22. Following the transaction, the director now directly owns 6,086 shares in the company, valued at $181,180.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Carolyn Monroe sold 3,377 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $30.04, for a total transaction of $101,445.08. Following the transaction, the senior vice president now directly owns 33,556 shares of the company’s stock, valued at approximately $1,008,022.24. The disclosure for this sale can be found here. 0.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ORI. Vanguard Group Inc. increased its holdings in shares of Old Republic International by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 28,156,630 shares of the insurance provider’s stock worth $864,972,000 after purchasing an additional 1,661,147 shares during the period. Norges Bank bought a new position in shares of Old Republic International during the 4th quarter worth about $89,446,000. Northern Trust Corp increased its holdings in shares of Old Republic International by 13.1% during the 3rd quarter. Northern Trust Corp now owns 2,460,669 shares of the insurance provider’s stock worth $66,290,000 after purchasing an additional 284,491 shares during the period. Invesco Ltd. increased its holdings in shares of Old Republic International by 55.2% during the 3rd quarter. Invesco Ltd. now owns 2,263,038 shares of the insurance provider’s stock worth $60,966,000 after purchasing an additional 804,803 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Old Republic International by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,817,104 shares of the insurance provider’s stock worth $53,423,000 after purchasing an additional 32,917 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

About Old Republic International

(Get Free Report)

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.

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