RLI Corp. (NYSE:RLI) Plans Dividend Increase – $0.18 Per Share

RLI Corp. (NYSE:RLI) declared a quarterly dividend on Friday, May 15th. Shareholders of record on Friday, May 29th will be given a dividend of 0.18 per share by the insurance provider on Friday, June 12th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, May 29th. This is a 12.5% increase from RLI’s previous quarterly dividend of $0.16.

RLI has increased its dividend by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 51 consecutive years. RLI has a dividend payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RLI to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 23.7%.

RLI Stock Performance

Shares of RLI stock opened at $49.98 on Friday. RLI has a fifty-two week low of $47.26 and a fifty-two week high of $77.24. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 11.68 and a beta of 0.42. The stock’s 50-day simple moving average is $56.55 and its 200-day simple moving average is $59.92.

RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. RLI had a return on equity of 17.72% and a net margin of 20.81%.The business had revenue of $423.87 million for the quarter, compared to analyst estimates of $564.47 million. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. As a group, equities analysts forecast that RLI will post 2.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RLI shares. Wall Street Zen lowered RLI from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Wells Fargo & Company dropped their price target on RLI from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Citizens Jmp restated a “market perform” rating on shares of RLI in a research note on Friday, January 23rd. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price on the stock in a research report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of RLI in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, RLI has a consensus rating of “Hold” and an average target price of $61.50.

RLI Company Profile

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.