RLI (NYSE:RLI) Posts Quarterly Earnings Results

RLI (NYSE:RLI) announced its quarterly earnings results on Monday. The insurance provider reported $1.31 EPS for the quarter, beating the consensus estimate of $0.98 by $0.33, Briefing.com reports. RLI had a net margin of 20.78% and a return on equity of 18.33%. The company had revenue of $470.00 million for the quarter, compared to analyst estimates of $491.54 million. During the same quarter last year, the business earned $0.61 earnings per share. RLI’s revenue was up 41.7% compared to the same quarter last year.

RLI Price Performance

Shares of RLI opened at $162.09 on Tuesday. RLI has a one year low of $125.77 and a one year high of $164.25. The company has a 50-day moving average of $153.93 and a two-hundred day moving average of $146.85. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 22.11 and a beta of 0.41.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, August 30th. RLI’s payout ratio is 15.83%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RLI shares. Wolfe Research started coverage on shares of RLI in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price target on the stock. JMP Securities restated a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $162.00 price objective on shares of RLI in a report on Tuesday, October 8th. Oppenheimer initiated coverage on shares of RLI in a report on Wednesday, October 16th. They issued a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $173.80.

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.