RLI (NYSE:RLI) Announces Earnings Results

RLI (NYSE:RLI) released its earnings results on Monday. The insurance provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.26, Briefing.com reports. RLI had a net margin of 20.15% and a return on equity of 17.02%. The business had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. During the same period last year, the firm posted $1.63 earnings per share. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year.

RLI Trading Up 0.7 %

Shares of NYSE RLI opened at $141.25 on Tuesday. The business has a 50 day simple moving average of $144.42 and a 200 day simple moving average of $138.79. RLI has a 52 week low of $123.04 and a 52 week high of $149.65. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 21.34 and a beta of 0.37. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Thursday, February 29th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.76%. The ex-dividend date was Wednesday, February 28th. RLI’s payout ratio is currently 16.31%.

Analysts Set New Price Targets

RLI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Royal Bank of Canada restated a “sector perform” rating and set a $148.00 price objective on shares of RLI in a research report on Friday, January 26th.

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.