RLI (NYSE:RLI) Issues Earnings Results, Beats Expectations By $0.37 EPS

RLI (NYSE:RLI) released its earnings results on Monday. The insurance provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37, Briefing.com reports. RLI had a return on equity of 18.89% and a net margin of 20.78%. The business had revenue of $416.44 million for the quarter, compared to the consensus estimate of $561.60 million. During the same period last year, the business earned $1.16 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year.

RLI Trading Up 3.0 %

NYSE:RLI opened at $143.75 on Wednesday. RLI has a 1 year low of $125.77 and a 1 year high of $149.20. The firm has a 50 day moving average of $142.07 and a 200-day moving average of $142.74. The stock has a market capitalization of $6.57 billion, a P/E ratio of 19.85 and a beta of 0.41.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were paid a $0.29 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from RLI’s previous quarterly dividend of $0.27. RLI’s payout ratio is 16.02%.

Analyst Ratings Changes

RLI has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price objective on shares of RLI in a report on Friday, June 21st. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Tuesday. Jefferies Financial Group decreased their price objective on RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Finally, Compass Point lifted their price objective on RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.75.

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.