RLI Corp. (NYSE:RLI) Declares None Dividend of $4.29

RLI Corp. (NYSE:RLI) announced a None dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Friday, November 29th will be given a dividend of 4.29 per share by the insurance provider on Friday, December 20th. The ex-dividend date is Friday, November 29th. This is an increase from RLI’s previous None dividend of $2.25.

RLI has raised its dividend payment by an average of 4.0% annually over the last three years and has increased its dividend every year for the last 50 years. RLI has a payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RLI to earn $6.26 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 18.5%.

RLI Price Performance

NYSE RLI opened at $172.09 on Friday. The company has a market cap of $7.89 billion, a P/E ratio of 18.92 and a beta of 0.41. RLI has a 1-year low of $125.77 and a 1-year high of $173.02. The stock has a 50-day moving average of $156.60 and a two-hundred day moving average of $148.73.

RLI’s stock is scheduled to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly minted shares will be payable to shareholders after the market closes on Wednesday, January 15th.

RLI (NYSE:RLI) last released its earnings results on Monday, October 21st. The insurance provider reported $1.31 EPS for the quarter, topping the consensus estimate of $0.98 by $0.33. The firm had revenue of $470.00 million during the quarter, compared to analysts’ expectations of $491.54 million. RLI had a return on equity of 19.03% and a net margin of 23.77%. RLI’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 EPS. On average, analysts anticipate that RLI will post 5.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Wolfe Research initiated coverage on shares of RLI in a report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price objective on the stock. Compass Point lifted their price objective on shares of RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Jefferies Financial Group increased their target price on RLI from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada lifted their price target on RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, RLI presently has an average rating of “Moderate Buy” and a consensus target price of $177.40.

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.