RLI (NYSE:RLI) Issues Earnings Results, Misses Estimates By $0.64 EPS

RLI (NYSE:RLI) issued its quarterly earnings results on Wednesday. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64), Zacks reports. RLI had a return on equity of 19.03% and a net margin of 23.77%.

RLI Stock Performance

Shares of RLI opened at $78.11 on Thursday. The stock has a market capitalization of $7.16 billion, a P/E ratio of 17.17 and a beta of 0.47. The company’s fifty day moving average is $83.53 and its two-hundred day moving average is $78.80. RLI has a 1 year low of $67.04 and a 1 year high of $91.14.

RLI Cuts Dividend

The company also recently disclosed a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were paid a $2.145 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a yield of 0.7%. RLI’s dividend payout ratio is currently 12.75%.

Insider Buying and Selling at RLI

In other RLI news, Director Michael J. Stone sold 400 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the transaction, the director now directly owns 429,622 shares of the company’s stock, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Compass Point lifted their price target on shares of RLI from $85.00 to $92.50 and gave the stock a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their price target on shares of RLI from $81.00 to $82.50 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on shares of RLI from $82.50 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer initiated coverage on shares of RLI in a research report on Wednesday, October 16th. They set a “market perform” rating for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.20.

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.