RLI (NYSE:RLI) Issues Earnings Results

RLI (NYSE:RLI) issued its earnings results on Wednesday. The insurance provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08, RTT News reports. The business had revenue of $224.54 million during the quarter, compared to the consensus estimate of $227.16 million. RLI had a return on equity of 11.34% and a net margin of 13.63%. During the same period in the previous year, the company posted $0.60 earnings per share.

Shares of NYSE:RLI opened at $88.96 on Friday. The stock has a market capitalization of $4.01 billion, a PE ratio of 40.40 and a beta of 0.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.38 and a current ratio of 0.38. RLI has a 12-month low of $64.48 and a 12-month high of $91.49. The firm’s 50 day moving average is $87.69.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, May 30th. This is a boost from RLI’s previous quarterly dividend of $0.22. RLI’s dividend payout ratio (DPR) is 44.88%.



In related news, Director Michael J. Stone sold 15,000 shares of RLI stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $79.19, for a total transaction of $1,187,850.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Stone sold 1,433 shares of RLI stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $85.61, for a total value of $122,679.13. The disclosure for this sale can be found here. 5.01% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in RLI. First Trust Advisors LP purchased a new position in shares of RLI during the fourth quarter valued at approximately $388,000. Advisor Group Inc. boosted its position in shares of RLI by 10.5% during the fourth quarter. Advisor Group Inc. now owns 2,922 shares of the insurance provider’s stock valued at $201,000 after buying an additional 278 shares during the last quarter. Citigroup Inc. boosted its position in shares of RLI by 39.8% during the fourth quarter. Citigroup Inc. now owns 14,779 shares of the insurance provider’s stock valued at $1,019,000 after buying an additional 4,204 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of RLI by 6.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 51,487 shares of the insurance provider’s stock valued at $3,277,000 after buying an additional 3,049 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of RLI by 6.1% during the fourth quarter. Hsbc Holdings PLC now owns 3,253 shares of the insurance provider’s stock valued at $225,000 after buying an additional 187 shares during the last quarter. 89.48% of the stock is currently owned by institutional investors.

RLI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on Fidelity National Financial from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday. TheStreet downgraded WCF Bancorp from a “c” rating to a “d+” rating in a report on Thursday, April 18th. Finally, Zacks Investment Research downgraded Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. RLI has a consensus rating of “Hold” and a consensus price target of $75.00.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.

Further Reading: Dividend Achievers

Earnings History for RLI (NYSE:RLI)

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