RLI (NYSE:RLI) Posts Quarterly Earnings Results, Beats Expectations By $0.33 EPS

RLI (NYSE:RLI) announced its quarterly earnings results on Monday. The insurance provider reported $1.31 EPS for the quarter, beating the consensus estimate of $0.98 by $0.33, Briefing.com reports. The business had revenue of $470.00 million during the quarter, compared to analysts’ expectations of $491.54 million. RLI had a return on equity of 18.33% and a net margin of 20.78%. The firm’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS.

RLI Stock Down 1.8 %

NYSE:RLI opened at $159.05 on Wednesday. The firm has a market cap of $7.28 billion, a PE ratio of 21.70 and a beta of 0.41. RLI has a 12 month low of $125.77 and a 12 month high of $164.25. The company’s 50-day moving average price is $154.19 and its two-hundred day moving average price is $146.95.

RLI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, August 30th. RLI’s dividend payout ratio is currently 15.83%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wolfe Research assumed coverage on RLI in a research note on Wednesday, October 9th. They set an “outperform” rating and a $182.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Jefferies Financial Group raised their price objective on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $162.00 price target on shares of RLI in a report on Tuesday, October 8th. Finally, Compass Point decreased their price target on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RLI presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.80.

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.