RLI (NYSE:RLI) Announces Quarterly Earnings Results, Beats Estimates By $0.45 EPS

RLI (NYSE:RLIGet Rating) released its earnings results on Wednesday. The insurance provider reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.45, MarketWatch Earnings reports. RLI had a return on equity of 14.52% and a net margin of 23.69%. The firm had revenue of $264.81 million during the quarter, compared to analysts’ expectations of $283.93 million. During the same period in the previous year, the firm posted $0.87 EPS. RLI’s revenue for the quarter was down 7.8% on a year-over-year basis.

RLI stock traded up $2.65 during trading on Wednesday, hitting $113.68. The company had a trading volume of 174,660 shares, compared to its average volume of 141,994. The firm has a market cap of $5.15 billion, a PE ratio of 18.61 and a beta of 0.45. RLI has a 1-year low of $96.22 and a 1-year high of $117.84. The firm has a 50-day moving average price of $106.17 and a 200-day moving average price of $107.10. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.16.

The business also recently declared a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Monday, February 28th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Friday, February 25th. RLI’s dividend payout ratio (DPR) is presently 16.37%.

RLI has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded RLI from a “buy” rating to a “hold” rating and set a $118.00 price target for the company. in a report on Tuesday, January 11th. StockNews.com initiated coverage on RLI in a report on Thursday, March 31st. They issued a “hold” rating for the company. B. Riley reduced their target price on RLI from $130.00 to $125.00 in a report on Wednesday, January 26th. Finally, Compass Point raised RLI from a “neutral” rating to a “buy” rating and set a $117.00 target price for the company in a report on Tuesday, February 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $118.40.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in RLI by 4.3% in the 4th quarter. BlackRock Inc. now owns 4,574,262 shares of the insurance provider’s stock valued at $512,773,000 after acquiring an additional 190,614 shares during the period. First Community Trust NA acquired a new position in RLI in the 4th quarter valued at about $123,000. Deutsche Bank AG increased its position in RLI by 3.2% in the 4th quarter. Deutsche Bank AG now owns 29,491 shares of the insurance provider’s stock valued at $3,306,000 after acquiring an additional 906 shares during the period. California State Teachers Retirement System increased its position in RLI by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 56,182 shares of the insurance provider’s stock valued at $6,298,000 after acquiring an additional 1,187 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in RLI by 9.1% in the 4th quarter. Parametric Portfolio Associates LLC now owns 83,944 shares of the insurance provider’s stock valued at $9,410,000 after acquiring an additional 7,016 shares during the period. Hedge funds and other institutional investors own 80.62% of the company’s stock.

RLI Company Profile (Get Rating)

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.

See Also

Earnings History for RLI (NYSE:RLI)

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