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

RLI (NYSE:RLI - Get Free Report) announced its earnings results on Monday. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, beating 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 business had revenue of $444.80 million during the quarter, compared to analyst estimates of $460.05 million. During the same period in the previous year, the business posted $1.63 earnings per share. RLI's revenue for the quarter was up 21.9% on a year-over-year basis.

RLI Trading Up 3.2 %

Shares of NYSE RLI traded up $4.52 during mid-day trading on Tuesday, hitting $145.76. The stock had a trading volume of 314,006 shares, compared to its average volume of 176,485. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. RLI has a 1 year low of $123.04 and a 1 year high of $149.65. The business has a 50 day moving average price of $144.42 and a two-hundred day moving average price of $138.79. The firm has a market cap of $6.66 billion, a P/E ratio of 22.32 and a beta of 0.37.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Wednesday, February 28th. RLI's payout ratio is 16.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $148.00 target price on shares of RLI in a research report on Friday, January 26th. Keefe, Bruyette & Woods lifted their price target on shares of RLI from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 10th. Finally, JMP Securities reissued a "market perform" rating on shares of RLI in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, RLI currently has an average rating of "Hold" and a consensus target price of $160.25.

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.