RLI (NYSE:RLI) Issues Quarterly Earnings Results

RLI (NYSE:RLI) announced its quarterly earnings data on Monday. The insurance provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.26, Briefing.com reports. The firm had revenue of $444.80 million during the quarter, compared to analysts’ expectations of $460.05 million. RLI had a return on equity of 17.02% and a net margin of 20.15%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.63 EPS.

RLI Price Performance

NYSE RLI opened at $141.25 on Tuesday. The business has a 50 day simple moving average of $144.42 and a 200 day simple moving average of $138.79. RLI has a 52-week low of $123.04 and a 52-week high of $149.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 21.34 and a beta of 0.37.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 dividend on an annualized basis and a yield of 0.76%. RLI’s payout ratio is 16.31%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $148.00 price target on shares of RLI in a research note on Friday, January 26th.

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.