RLI (NYSE:RLI) Issues Quarterly Earnings Results, Beats Expectations By $0.32 EPS

RLI (NYSE:RLI) posted its quarterly earnings results on Monday. The insurance provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.32, FiscalAI reports. RLI had a return on equity of 17.61% and a net margin of 22.22%. The company had revenue of $476.96 million for the quarter, compared to analysts’ expectations of $533.51 million.

RLI Stock Performance

RLI stock traded up $0.03 during trading on Monday, hitting $61.10. 1,510,841 shares of the company’s stock traded hands, compared to its average volume of 831,584. RLI has a 52 week low of $47.26 and a 52 week high of $67.12. The business has a fifty day simple moving average of $60.56 and a 200 day simple moving average of $57.77. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 12.84 and a beta of 0.36.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, August 31st. RLI’s payout ratio is currently 15.13%.

Analysts Set New Price Targets

RLI has been the subject of a number of research analyst reports. UBS Group set a $74.00 price objective on shares of RLI in a report on Tuesday, July 28th. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $74.00 target price (up from $70.00) on shares of RLI in a report on Tuesday, July 28th. Jefferies Financial Group lowered shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 target price for the company. in a research report on Tuesday, August 25th. Finally, Weiss Ratings raised shares of RLI from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, RLI presently has a consensus rating of “Reduce” and an average target price of $62.00.

RLI Company Profile

RLI Corp. is a specialty insurance company that underwrites a broad range of property and casualty insurance products for individuals, businesses and organizations. Its offerings include commercial casualty coverage, property insurance, surety bonds, transportation-related insurance, professional liability and personal umbrella policies.

The company serves specialty markets that may be underserved by standard insurance providers. RLI distributes its products through independent agents and brokers, with business conducted primarily throughout the United States and coverage available across many industries, professions and geographic regions.

RLI was founded in 1965 as Replacement Lens, Inc, initially providing replacement coverage for automobile windshield lenses before expanding into specialty insurance.