RLI (NYSE:RLI) Announces Earnings Results, Beats Estimates By $0.33 EPS

RLI (NYSE:RLI) posted its quarterly earnings data on Monday. The insurance provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.33, Briefing.com reports. The company had revenue of $470.00 million during the quarter, compared to analyst estimates of $491.54 million. RLI had a net margin of 20.78% and a return on equity of 18.33%. The business’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share.

RLI Price Performance

Shares of NYSE RLI traded up $0.66 during trading hours on Wednesday, hitting $159.71. 247,034 shares of the stock were exchanged, compared to its average volume of 154,396. The firm has a market capitalization of $7.31 billion, a P/E ratio of 21.79 and a beta of 0.41. RLI has a one year low of $125.77 and a one year high of $164.25. The company’s 50 day moving average is $154.43 and its 200 day moving average is $147.04.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, August 30th. RLI’s payout ratio is 15.83%.

Analyst Ratings Changes

Several research firms have weighed in on RLI. Keefe, Bruyette & Woods lifted their price objective on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Oppenheimer started coverage on shares of RLI in a research note on Wednesday, October 16th. They set a “market perform” rating for the company. Wolfe Research initiated coverage on RLI in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 target price on the stock. Royal Bank of Canada lifted their price target on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, Jefferies Financial Group lifted their target price on shares of RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, RLI presently has a consensus rating of “Moderate Buy” and an average price target of $174.40.

About RLI

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.