RLI Corp. (NYSE:RLI) to Issue $0.18 Quarterly Dividend

RLI Corp. (NYSE:RLI) announced a quarterly dividend on Thursday, August 13th. Stockholders of record on Monday, August 31st will be given 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st.

RLI has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 51 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 Up 1.7%

Shares of NYSE RLI opened at $64.00 on Friday. The firm has a 50-day simple moving average of $59.19 and a 200-day simple moving average of $57.75. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 13.45 and a beta of 0.38. RLI has a 52 week low of $47.26 and a 52 week high of $69.19.

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

Insider Buying and Selling at RLI

In other RLI news, Director David B. Duclos purchased 2,500 shares of RLI stock in a transaction dated Thursday, May 28th. The shares were acquired at an average price of $51.99 per share, with a total value of $129,975.00. Following the completion of the transaction, the director owned 9,780 shares of the company’s stock, valued at $508,462.20. This trade represents a 34.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jennifer L. Klobnak acquired 2,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average cost of $52.72 per share, with a total value of $105,440.00. Following the purchase, the chief operating officer owned 104,318 shares of the company’s stock, valued at approximately $5,499,644.96. This trade represents a 1.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 16,500 shares of company stock valued at $858,955 over the last three months. 2.39% of the stock is currently owned by company insiders.

Institutional Trading of RLI

Large investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in RLI by 115.1% during the 1st quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock worth $4,529,000 after purchasing an additional 30,170 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of RLI by 110.8% during the first quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock worth $14,902,000 after buying an additional 97,501 shares in the last quarter. Empowered Funds LLC increased its stake in shares of RLI by 472.3% during the first quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock worth $2,344,000 after buying an additional 24,079 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of RLI by 46.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider’s stock worth $113,000 after buying an additional 493 shares during the period. Finally, Amundi raised its holdings in RLI by 16,550.0% in the second quarter. Amundi now owns 23,976 shares of the insurance provider’s stock valued at $1,689,000 after acquiring an additional 23,832 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Company Profile

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.