RLI (NYSE:RLI) Announces Quarterly Earnings Results

RLI (NYSE:RLI) released its quarterly earnings data on Monday. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26, Briefing.com reports. The firm had revenue of $444.80 million during the quarter, compared to analysts’ expectations of $460.05 million. RLI had a return on equity of 17.77% and a net margin of 20.96%. RLI’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 earnings per share.

RLI Stock Up 1.3 %

Shares of NYSE:RLI traded up $1.95 during mid-day trading on Wednesday, hitting $147.71. 219,425 shares of the company traded hands, compared to its average volume of 176,061. The firm has a market cap of $6.75 billion, a P/E ratio of 22.20 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 has a 52-week low of $123.04 and a 52-week high of $149.20. The firm’s 50 day simple moving average is $144.54 and its 200 day simple moving average is $138.85.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 0.73%. RLI’s payout ratio is currently 16.31%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RLI shares. Compass Point increased their price objective on RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday. Royal Bank of Canada raised their price target on RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods raised their price target on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, RLI currently has an average rating of “Moderate Buy” and an average target price of $163.25.

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.