RLI (NYSE:RLI) Issues Quarterly Earnings Results

RLI (NYSE:RLI) released its quarterly earnings data on Wednesday. The insurance provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64), Zacks reports. RLI had a return on equity of 19.03% and a net margin of 23.77%.

RLI Stock Up 0.2 %

RLI traded up $0.14 during trading on Wednesday, reaching $78.11. The stock had a trading volume of 619,160 shares, compared to its average volume of 490,349. The stock has a 50 day moving average of $83.53 and a two-hundred day moving average of $78.80. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 17.17 and a beta of 0.47. RLI has a 1-year low of $67.04 and a 1-year high of $91.14.

RLI Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were paid a dividend of $2.145 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, November 29th. RLI’s payout ratio is currently 12.75%.

Wall Street Analyst Weigh In

A number of research firms have commented on RLI. Keefe, Bruyette & Woods dropped their price objective on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada lifted their price target on shares of RLI from $81.00 to $82.50 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Compass Point raised their price target on RLI from $85.00 to $92.50 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wolfe Research assumed coverage on shares of RLI in a research note on Wednesday, October 9th. They set an “outperform” rating and a $91.00 price objective for the company. Finally, Oppenheimer initiated coverage on shares of RLI in a research report on Wednesday, October 16th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, RLI presently has a consensus rating of “Moderate Buy” and an average target price of $91.20.

Insider Transactions at RLI

In other news, Director Michael J. Stone sold 400 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the completion of the sale, the director now directly owns 429,622 shares in the company, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.91% of the stock is owned by insiders.

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.