RLI (NYSE:RLI) Announces Quarterly Earnings Results, Beats Estimates By $0.26 EPS

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

RLI Price Performance

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

RLI Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently commented on RLI. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 price target on shares of RLI in a research report on Friday, January 26th. Keefe, Bruyette & Woods increased their price objective on shares of RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th.

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.