RLI (NYSE:RLI) Releases Earnings Results, Beats Estimates By $0.18 EPS

RLI (NYSE:RLI) posted its earnings results on Wednesday. The insurance provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.18, Zacks reports. The firm had revenue of $465.69 million during the quarter, compared to analyst estimates of $447.53 million. RLI had a net margin of 21.43% and a return on equity of 18.78%. During the same period last year, the firm posted $0.41 earnings per share.

RLI Price Performance

Shares of RLI stock opened at $57.35 on Friday. The stock has a 50 day moving average price of $62.74 and a 200 day moving average price of $64.53. The firm has a market capitalization of $5.27 billion, a P/E ratio of 13.15 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35. RLI has a 52-week low of $55.80 and a 52-week high of $81.79.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 28th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, November 28th. RLI’s dividend payout ratio is presently 16.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price target on RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Wells Fargo & Company set a $59.00 price objective on RLI in a research report on Friday. Truist Financial set a $62.00 price objective on RLI and gave the company a “hold” rating in a research note on Friday, October 3rd. Finally, Jefferies Financial Group raised 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. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, RLI currently has a consensus rating of “Hold” and an average price target of $68.33.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in RLI by 115.1% in the 1st quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock valued at $4,529,000 after buying an additional 30,170 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of RLI by 110.8% in the first quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock valued at $14,902,000 after purchasing an additional 97,501 shares during the period. Empowered Funds LLC grew its stake in RLI by 472.3% in the first quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock worth $2,344,000 after purchasing an additional 24,079 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in RLI by 46.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 493 shares during the period. Finally, Amundi raised its position in RLI by 16,550.0% during the 2nd quarter. Amundi now owns 23,976 shares of the insurance provider’s stock valued at $1,689,000 after purchasing an additional 23,832 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

About RLI

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.