RLI Corp. (NYSE:RLI) Announces Quarterly Dividend of $0.16

Key Points

• RLI Corp. declared a quarterly dividend of $0.16 per share, with a yield of 0.9%, to be paid on September 19th to investors of record as of August 29th.
• The company reported earnings of $0.84 per share for the last quarter, exceeding estimates, with a revenue of $562.28 million, marking a 20% increase year-over-year.
• RLI has a consensus rating of "Hold" from analysts, with a target price of $78.60, reflecting varied opinions on the stock's future performance.

RLI Corp. (NYSE:RLI - Get Free Report) declared a quarterly dividend on Thursday, August 14th, RTT News reports. Investors of record on Friday, August 29th will be paid a dividend of 0.16 per share by the insurance provider on Friday, September 19th. This represents a c) annualized dividend and a yield of 0.9%.

RLI has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RLI to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 19.4%.

RLI Price Performance

Shares of RLI opened at $67.38 on Friday. The firm has a market cap of $6.19 billion, a PE ratio of 19.31 and a beta of 0.66. The firm's 50 day moving average price is $70.12 and its 200 day moving average price is $73.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35. RLI has a twelve month low of $65.14 and a twelve month high of $91.14.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The insurance provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $562.28 million for the quarter, compared to analyst estimates of $445.55 million. RLI had a net margin of 17.81% and a return on equity of 15.82%. The company's revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 earnings per share. As a group, research analysts expect that RLI will post 3.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RLI. Wall Street Zen upgraded shares of RLI from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Finally, JMP Securities reiterated a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, RLI has a consensus rating of "Hold" and a consensus target price of $78.60.

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.

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