RLI (NYSE:RLI) Posts Quarterly Earnings Results

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

RLI Price Performance

RLI opened at $162.09 on Tuesday. RLI has a fifty-two week low of $125.77 and a fifty-two week high of $164.25. The firm’s fifty day moving average price is $153.93 and its two-hundred day moving average price is $146.85. The company has a market capitalization of $7.42 billion, a P/E ratio of 22.11 and a beta of 0.41.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.72%. RLI’s dividend payout ratio is currently 15.83%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RLI. Wolfe Research assumed coverage on shares of RLI in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price target for the company. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Jefferies Financial Group raised their price objective on shares of RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $162.00 price target on shares of RLI in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $173.80.

RLI Company Profile

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.