RLI (NYSE:RLI) Announces Quarterly Earnings Results

RLI (NYSE:RLI) issued its quarterly earnings data on Monday. The insurance provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37, Briefing.com reports. RLI had a net margin of 20.78% and a return on equity of 18.89%. The business had revenue of $416.44 million for the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter last year, the company earned $1.16 EPS. The business’s revenue was up 9.1% on a year-over-year basis.

RLI Stock Performance

Shares of NYSE:RLI traded up $0.90 during trading on Thursday, hitting $142.57. The company’s stock had a trading volume of 7,110 shares, compared to its average volume of 164,063. The company has a market capitalization of $6.52 billion, a PE ratio of 19.56 and a beta of 0.41. RLI has a fifty-two week low of $125.77 and a fifty-two week high of $149.20. The business has a 50 day moving average price of $142.00 and a two-hundred day moving average price of $142.73.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Friday, May 31st. This is a boost from RLI’s previous quarterly dividend of $0.27. RLI’s dividend payout ratio is currently 16.02%.

Analyst Ratings Changes

A number of brokerages have issued reports on RLI. Compass Point cut their target price on RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price target on shares of RLI in a research note on Friday, June 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $155.00 price objective on shares of RLI in a research report on Wednesday. Jefferies Financial Group decreased their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Finally, JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.50.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.