RLI Corp. (NYSE:RLI – Get Free Report) declared a quarterly dividend on Friday, May 15th. Shareholders of record on Friday, May 29th will be paid a dividend of 0.18 per share by the insurance provider on Friday, June 12th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. This is a 12.5% increase from RLI’s previous quarterly dividend of $0.16.
RLI has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 51 years. RLI has a payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings. Analysts expect RLI to earn $2.69 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 23.8%.
RLI Stock Performance
Shares of NYSE RLI opened at $50.88 on Friday. RLI has a fifty-two week low of $47.26 and a fifty-two week high of $77.24. The company has a 50 day simple moving average of $56.32 and a two-hundred day simple moving average of $59.86. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 11.89 and a beta of 0.42.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on RLI shares. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of RLI in a report on Thursday, April 2nd. Wells Fargo & Company cut their price target on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Finally, Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, RLI currently has a consensus rating of “Hold” and an average target price of $61.50.
Check Out Our Latest Research Report on RLI
RLI Company Profile
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.
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