RLI (NYSE:RLI) Issues Quarterly Earnings Results

RLI (NYSE:RLI) announced its quarterly earnings results on Wednesday. The insurance provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.18, Zacks reports. The company had revenue of $465.69 million for the quarter, compared to the consensus estimate of $447.53 million. RLI had a return on equity of 16.51% and a net margin of 19.02%.During the same period last year, the firm earned $0.41 EPS.

RLI Trading Down 1.0%

Shares of RLI stock opened at $59.02 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.35 and a quick ratio of 0.35. The stock’s 50 day simple moving average is $62.86 and its 200-day simple moving average is $64.58. The stock has a market cap of $5.42 billion, a P/E ratio of 15.49 and a beta of 0.54. RLI has a 1-year low of $57.75 and a 1-year high of $81.79.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 28th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 28th. RLI’s payout ratio is currently 16.80%.

Institutional Trading of RLI

Several large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP acquired a new stake in shares of RLI in the 2nd quarter worth $84,608,000. Two Sigma Investments LP grew its holdings in shares of RLI by 353.1% in the third quarter. Two Sigma Investments LP now owns 446,378 shares of the insurance provider’s stock valued at $29,113,000 after purchasing an additional 347,858 shares during the period. UBS Group AG raised its stake in RLI by 102.7% during the third quarter. UBS Group AG now owns 558,613 shares of the insurance provider’s stock worth $36,433,000 after purchasing an additional 283,083 shares during the period. State Street Corp raised its stake in RLI by 3.3% during the third quarter. State Street Corp now owns 8,750,315 shares of the insurance provider’s stock worth $570,696,000 after purchasing an additional 279,983 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in RLI in the 3rd quarter valued at about $14,391,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wells Fargo & Company set a $62.00 price objective on RLI and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. Keefe, Bruyette & Woods lowered their price target on shares of RLI from $85.00 to $81.00 and set an “outperform” rating on the stock in a report on Tuesday, January 6th. Truist Financial set a $62.00 price objective on shares of RLI and gave the company a “hold” rating in a report on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, RLI has an average rating of “Hold” and a consensus price target of $70.33.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.