RLI (NYSE:RLI) Posts Quarterly Earnings Results, Beats Estimates By $0.26 EPS

RLI (NYSE:RLI) announced its earnings results on Monday. The insurance provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.26, Briefing.com reports. The business had revenue of $444.80 million during the quarter, compared to the consensus estimate of $460.05 million. RLI had a return on equity of 17.77% and a net margin of 20.96%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 EPS.

RLI Stock Up 3.2 %

NYSE RLI opened at $145.76 on Wednesday. The business has a fifty day moving average price of $144.54 and a 200 day moving average price of $138.85. RLI has a one year low of $123.04 and a one year high of $149.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $6.66 billion, a P/E ratio of 20.13 and a beta of 0.37.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Wednesday, February 28th. RLI’s dividend payout ratio is currently 14.92%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 target price on shares of RLI in a research note on Friday, January 26th. Keefe, Bruyette & Woods upped their target price on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, RLI currently has an average rating of “Hold” and an average target price of $160.25.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. 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.