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

RLI (NYSE:RLI - Get Free Report) issued its quarterly 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. RLI had a net margin of 20.78% and a return on equity of 18.33%. The business had revenue of $470.00 million for the quarter, compared to analyst estimates of $491.54 million. During the same quarter in the prior year, the business posted $0.61 EPS. RLI's revenue for the quarter was up 41.7% compared to the same quarter last year.

RLI Stock Down 1.8 %

Shares of RLI stock traded down $2.95 during mid-day trading on Tuesday, hitting $159.05. 377,360 shares of the stock were exchanged, compared to its average volume of 153,942. RLI has a 52-week low of $125.77 and a 52-week high of $164.25. The firm has a fifty day moving average of $154.19 and a 200 day moving average of $146.95. The company has a market cap of $7.28 billion, a PE ratio of 21.70 and a beta of 0.41.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.73%. RLI's payout ratio is 15.83%.

Analyst Ratings Changes

Several analysts have weighed in on RLI shares. Wolfe Research started coverage on RLI in a research note on Wednesday, October 9th. They set an "outperform" rating and a $182.00 price target on the stock. Jefferies Financial Group raised their price target on shares of RLI from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their price objective on shares of RLI from $169.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, July 29th. Compass Point decreased their target price on shares of RLI from $175.00 to $170.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. Finally, Oppenheimer initiated coverage on shares of RLI in a report on Wednesday, October 16th. They issued a "market perform" rating on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, RLI presently has an average rating of "Moderate Buy" and a consensus target price 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.