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

RLI (NYSE:RLI) announced its quarterly earnings data on Wednesday. The insurance provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.64), Zacks reports. RLI had a net margin of 19.53% and a return on equity of 16.38%.

RLI Stock Performance

RLI stock opened at $71.86 on Friday. The business’s fifty day moving average is $83.32 and its two-hundred day moving average is $78.80. The firm has a market cap of $6.59 billion, a P/E ratio of 19.19 and a beta of 0.47. RLI has a 52 week low of $67.04 and a 52 week high of $91.14.

RLI Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a dividend of $2.145 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a dividend yield of 0.7%. RLI’s dividend payout ratio (DPR) is currently 15.49%.

Insider Buying and Selling

In other news, Director Michael J. Stone sold 400 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $84.78, for a total transaction of $33,910.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of RLI in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $91.00 price target on the stock. Oppenheimer assumed coverage on RLI in a research report on Wednesday, October 16th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods cut their price target on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Thursday. Finally, Compass Point raised their price target on shares of RLI from $85.00 to $92.50 and gave the company a “buy” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RLI presently has an average 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.