RLI (NYSE:RLI) Issues Quarterly Earnings Results

RLI (NYSE:RLI) posted its quarterly earnings data on Monday. The insurance provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.32, FiscalAI reports. RLI had a return on equity of 17.61% and a net margin of 22.22%. The firm had revenue of $476.96 million for the quarter, compared to analysts’ expectations of $533.51 million.

RLI Stock Performance

Shares of NYSE RLI traded up $0.03 during mid-day trading on Monday, reaching $61.10. The company had a trading volume of 1,510,958 shares, compared to its average volume of 832,045. RLI has a one year low of $47.26 and a one year high of $67.12. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 12.84 and a beta of 0.36. The business’s 50-day simple moving average is $60.56 and its 200 day simple moving average is $57.77.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 31st. RLI’s dividend payout ratio is 15.13%.

Analyst Ratings Changes

A number of research firms recently commented on RLI. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price target (up from $70.00) on shares of RLI in a research report on Tuesday, July 28th. UBS Group set a $74.00 price objective on shares of RLI in a report on Tuesday, July 28th. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Wells Fargo & Company reaffirmed an “underweight” rating and set a $51.00 target price (down from $57.00) on shares of RLI in a report on Monday, October 12th. Finally, Jefferies Financial Group cut shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 target price on the stock. in a report on Tuesday, August 25th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $62.00.

About RLI

RLI Corp. is a specialty insurance company that underwrites a broad range of property and casualty insurance products for individuals, businesses and organizations. Its offerings include commercial casualty coverage, property insurance, surety bonds, transportation-related insurance, professional liability and personal umbrella policies.

The company serves specialty markets that may be underserved by standard insurance providers. RLI distributes its products through independent agents and brokers, with business conducted primarily throughout the United States and coverage available across many industries, professions and geographic regions.

RLI was founded in 1965 as Replacement Lens, Inc, initially providing replacement coverage for automobile windshield lenses before expanding into specialty insurance.