RLI (NYSE:RLI) Posts Quarterly Earnings Results

RLI (NYSE:RLI) released its quarterly earnings data on Monday. The insurance provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26, Briefing.com reports. RLI had a net margin of 20.96% and a return on equity of 17.24%. The business had revenue of $444.80 million during the quarter, compared to the consensus estimate of $460.05 million. During the same quarter in the prior year, the firm earned $1.63 EPS. The business’s revenue was up 21.9% on a year-over-year basis.

RLI Stock Performance

RLI stock opened at $147.55 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.38. RLI has a 1-year low of $123.04 and a 1-year high of $149.20. The firm has a market capitalization of $6.74 billion, a P/E ratio of 20.39 and a beta of 0.37. The company’s 50-day moving average is $144.65 and its 200 day moving average is $138.92.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Wednesday, February 28th. RLI’s dividend payout ratio (DPR) is currently 14.92%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Compass Point increased their price objective on shares of RLI from $158.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities reissued a “market perform” rating on shares of RLI in a report on Tuesday. Keefe, Bruyette & Woods upped their target price on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada upped their target price on shares of RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.25.

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.