RLI (NYSE:RLI) Issues Quarterly Earnings Results, Misses Expectations By $0.64 EPS

RLI (NYSE:RLI) issued its quarterly earnings results on Wednesday. The insurance provider reported $0.41 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.64), Zacks reports. RLI had a return on equity of 19.03% and a net margin of 23.77%.

RLI Price Performance

NYSE RLI opened at $78.11 on Thursday. The firm’s 50-day moving average is $83.53 and its two-hundred day moving average is $78.80. RLI has a 12 month low of $67.04 and a 12 month high of $91.14. The stock has a market capitalization of $7.16 billion, a P/E ratio of 17.17 and a beta of 0.47.

RLI Cuts Dividend

The business also recently announced a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a $2.145 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a yield of 0.7%. RLI’s payout ratio is currently 12.75%.

Insider Buying and Selling at RLI

In related news, Director Michael J. Stone sold 400 shares of RLI stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the completion of the transaction, the director now owns 429,622 shares in the company, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RLI has been the subject of a number of research reports. Jefferies Financial Group upped their target price on shares of RLI from $82.50 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Oppenheimer assumed coverage on shares of RLI in a report on Wednesday, October 16th. They issued a “market perform” rating for the company. Compass Point upped their price objective on shares of RLI from $85.00 to $92.50 and gave the company a “buy” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods dropped their price objective on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada upped their price objective on shares of RLI from $81.00 to $82.50 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, RLI presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.20.

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.