RLI (NYSE:RLI) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

RLI (NYSE:RLI) issued its quarterly earnings data on Monday. The insurance provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26, Briefing.com reports. The business had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. RLI had a return on equity of 17.77% and a net margin of 20.96%. RLI’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS.

RLI Price Performance

Shares of RLI stock traded up $1.95 on Wednesday, reaching $147.71. The company’s stock had a trading volume of 219,425 shares, compared to its average volume of 176,061. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07. RLI has a 12-month low of $123.04 and a 12-month high of $149.20. The company has a market capitalization of $6.75 billion, a P/E ratio of 22.20 and a beta of 0.37. The stock’s 50 day simple moving average is $144.54 and its 200-day simple moving average is $138.85.

RLI Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were given a $0.27 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.73%. RLI’s dividend payout ratio (DPR) is presently 16.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday. Compass Point increased their price objective on RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada increased their price objective on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.25.

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.