RLI (NYSE:RLI) Issues Quarterly Earnings Results

RLI (NYSE:RLI) released its earnings results on Wednesday. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.18, Zacks reports. RLI had a return on equity of 16.51% and a net margin of 19.02%.

RLI Stock Down 1.0%

Shares of RLI stock traded down $0.59 during midday trading on Wednesday, reaching $59.02. 1,230,005 shares of the company’s stock traded hands, compared to its average volume of 750,531. 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 $57.75 and a 52 week high of $81.79. The company’s 50 day simple moving average is $62.92 and its 200 day simple moving average is $64.62. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 15.49 and a beta of 0.54.

RLI Dividend Announcement

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 dividend of $0.16 per share. The ex-dividend date was Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.1%. RLI’s dividend payout ratio (DPR) is currently 16.80%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in RLI by 3.3% during the third quarter. State Street Corp now owns 8,750,315 shares of the insurance provider’s stock worth $570,696,000 after purchasing an additional 279,983 shares during the period. Wasatch Advisors LP acquired a new stake in shares of RLI in the second quarter worth $84,608,000. Northern Trust Corp lifted its stake in shares of RLI by 2.6% in the third quarter. Northern Trust Corp now owns 885,111 shares of the insurance provider’s stock worth $57,727,000 after buying an additional 22,128 shares during the last quarter. UBS Group AG boosted its holdings in shares of RLI by 102.7% during the 3rd quarter. UBS Group AG now owns 558,613 shares of the insurance provider’s stock worth $36,433,000 after buying an additional 283,083 shares during the period. Finally, Two Sigma Investments LP grew its stake in RLI by 353.1% in the 3rd quarter. Two Sigma Investments LP now owns 446,378 shares of the insurance provider’s stock valued at $29,113,000 after buying an additional 347,858 shares during the last quarter. 77.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company set a $62.00 price objective on RLI and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Keefe, Bruyette & Woods reduced their price target on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. Finally, Truist Financial set a $62.00 price objective on shares of RLI and gave the company a “hold” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $70.33.

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.