RLI (NYSE:RLI) Issues Earnings Results

RLI (NYSE:RLI) released its quarterly earnings results on Wednesday. The insurance provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.06, Bloomberg Earnings reports. RLI had a return on equity of 11.51% and a net margin of 12.91%. The business had revenue of $228.79 million for the quarter, compared to the consensus estimate of $229.19 million.

Shares of NYSE:RLI opened at $97.69 on Friday. The stock’s 50-day moving average price is $91.81 and its 200-day moving average price is $86.84. RLI has a 12-month low of $64.48 and a 12-month high of $98.11. The stock has a market capitalization of $4.31 billion, a P/E ratio of 41.13 and a beta of 0.75. The company has a current ratio of 0.37, a quick ratio of 0.38 and a debt-to-equity ratio of 0.15.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.94%. RLI’s dividend payout ratio (DPR) is currently 44.88%.

A number of research firms have weighed in on RLI. Keefe, Bruyette & Woods raised their price target on RLI from $81.00 to $88.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. JMP Securities reaffirmed a “hold” rating on shares of RLI in a research note on Monday, September 23rd. Royal Bank of Canada set a $84.00 price objective on RLI and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, ValuEngine cut RLI from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $78.00.

In related news, Director Michael E. Angelina acquired 1,000 shares of RLI stock in a transaction dated Thursday, August 29th. The shares were purchased at an average cost of $90.79 per share, with a total value of $90,790.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Stone sold 1,433 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $92.67, for a total value of $132,796.11. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by company insiders.

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.

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Earnings History for RLI (NYSE:RLI)

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