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

RLI (NYSE:RLI) issued its earnings results on Monday. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.33, Briefing.com reports. The business had revenue of $470.00 million for 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 company’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 EPS.

RLI Trading Down 1.8 %

Shares of RLI stock opened at $159.05 on Wednesday. The firm has a market capitalization of $7.28 billion, a P/E ratio of 21.70 and a beta of 0.41. RLI has a 1 year low of $125.77 and a 1 year high of $164.25. The firm’s fifty day simple moving average is $154.19 and its 200 day simple moving average is $146.95.

RLI Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have issued reports on RLI shares. Oppenheimer started coverage on RLI in a research note on Wednesday, October 16th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Compass Point lowered their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $162.00 price target on shares of RLI in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.