RLI Corp. (NYSE:RLI) Declares $0.18 Quarterly Dividend

RLI Corp. (NYSE:RLI) declared a quarterly dividend on Thursday, August 13th. Investors of record on Monday, August 31st will be paid a dividend of 0.18 per share by the insurance provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, August 31st.

RLI has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 51 consecutive years. RLI has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RLI to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 26.0%.

RLI Stock Performance

NYSE RLI opened at $64.00 on Friday. The stock’s fifty day moving average is $59.19 and its two-hundred day moving average is $57.75. The firm has a market capitalization of $5.87 billion, a P/E ratio of 13.45 and a beta of 0.38. RLI has a fifty-two week low of $47.26 and a fifty-two week high of $69.19.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. RLI had a return on equity of 17.61% and a net margin of 22.22%.The business had revenue of $575.57 million during the quarter, compared to the consensus estimate of $568.70 million. During the same period last year, the company earned $0.82 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, sell-side analysts forecast that RLI will post 2.88 EPS for the current year.

Insiders Place Their Bets

In other RLI news, Director Clark C. Kellogg bought 3,000 shares of RLI stock in a transaction on Monday, June 1st. The shares were bought at an average price of $50.90 per share, for a total transaction of $152,700.00. Following the completion of the transaction, the director directly owned 4,502 shares of the company’s stock, valued at $229,151.80. This trade represents a 199.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director David B. Duclos purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was acquired at an average cost of $51.99 per share, for a total transaction of $129,975.00. Following the purchase, the director owned 9,780 shares in the company, valued at approximately $508,462.20. The trade was a 34.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 16,500 shares of company stock worth $858,955 over the last ninety days. Company insiders own 2.39% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RLI. Sanctuary Advisors LLC acquired a new stake in shares of RLI during the second quarter valued at about $1,199,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of RLI in the 2nd quarter valued at approximately $7,765,000. Bank of Nova Scotia acquired a new position in shares of RLI in the 2nd quarter worth approximately $426,000. Commerce Bank acquired a new position in shares of RLI in the 2nd quarter worth approximately $464,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of RLI in the 2nd quarter worth approximately $777,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.