RLI Corp. (NYSE:RLI) Scheduled to Post Quarterly Earnings on Wednesday
RLI Corp. (NYSE:RLI) will post its quarterly earnings results after the market closes on Wednesday, July 19th. Analysts expect RLI Corp. to post earnings of $0.52 per share for the quarter.
RLI Corp. (NYSE:RLI) last issued its earnings results on Wednesday, April 19th. The insurance provider reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.05. RLI Corp. had a return on equity of 10.02% and a net margin of 12.73%. The business had revenue of $196.90 million during the quarter, compared to analysts’ expectations of $199.01 million. During the same period last year, the firm posted $0.54 EPS. RLI Corp.’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, analysts expect RLI Corp. to post $1.95 EPS for the current fiscal year and $1.96 EPS for the next fiscal year.
RLI Corp. (NYSE RLI) opened at 54.03 on Tuesday. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 23.19 and a beta of 1.20. The firm has a 50-day moving average price of $55.55 and a 200-day moving average price of $58.26. RLI Corp. has a 12 month low of $52.51 and a 12 month high of $71.46.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Wednesday, May 31st were issued a dividend of $0.21 per share. This is an increase from RLI Corp.’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, May 26th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.55%. RLI Corp.’s payout ratio is 36.21%.
In related news, Director Michael J. Stone sold 947 shares of RLI Corp. stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $54.76, for a total transaction of $51,857.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Stone sold 5,000 shares of RLI Corp. stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $55.25, for a total value of $276,250.00. The disclosure for this sale can be found here. Insiders own 6.09% of the company’s stock.
RLI has been the subject of a number of research reports. Royal Bank Of Canada reaffirmed a “sell” rating and set a $50.00 target price on shares of RLI Corp. in a report on Monday, May 22nd. Keefe, Bruyette & Woods set a $51.00 target price on RLI Corp. and gave the stock a “hold” rating in a report on Wednesday, May 24th. ValuEngine raised RLI Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a report on Thursday, April 20th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $41.33.
About RLI Corp.
RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.
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