RLI (NYSE:RLI) Announces Earnings Results, Beats Expectations By $0.18 EPS

RLI (NYSE:RLI) released its quarterly earnings data on Wednesday. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.18, Zacks reports. RLI had a net margin of 19.02% and a return on equity of 16.51%.

RLI Price Performance

Shares of RLI stock traded down $0.59 during midday trading on Wednesday, reaching $59.02. 1,229,938 shares of the company were exchanged, compared to its average volume of 750,531. The company’s 50 day moving average price is $62.92 and its two-hundred day moving average price is $64.62. The company has a market cap of $5.42 billion, a P/E ratio of 15.49 and a beta of 0.54. RLI has a 12 month low of $57.75 and a 12 month high of $81.79. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 28th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.64 annualized dividend and a yield of 1.1%. RLI’s dividend payout ratio (DPR) is presently 16.80%.

Institutional Trading of RLI

Several institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of RLI by 156.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 283 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of RLI during the 3rd quarter valued at about $47,000. Danske Bank A S bought a new position in RLI during the third quarter valued at about $59,000. CIBC Private Wealth Group LLC lifted its holdings in RLI by 283.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 958 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 708 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of RLI by 86.4% in the third quarter. Parallel Advisors LLC now owns 1,454 shares of the insurance provider’s stock valued at $95,000 after purchasing an additional 674 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RLI. Wells Fargo & Company set a $62.00 target price on RLI and gave the company an “equal weight” rating in a report on Thursday, January 15th. Weiss Ratings restated a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price target on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a report on Tuesday, January 6th. Finally, Truist Financial set a $62.00 price objective on RLI and gave the stock a “hold” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, RLI currently has an average rating of “Hold” and a consensus price target of $70.33.

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.