RLI (NYSE:RLI) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

RLI (NYSE:RLI) posted its quarterly earnings results on Wednesday. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.10, FiscalAI reports. RLI had a net margin of 21.43% and a return on equity of 18.67%. The business had revenue of $423.87 million during the quarter, compared to the consensus estimate of $564.47 million.

RLI Stock Down 1.9%

NYSE RLI traded down $1.12 on Wednesday, reaching $57.28. The company had a trading volume of 1,020,099 shares, compared to its average volume of 755,000. The stock has a market capitalization of $5.27 billion, a P/E ratio of 13.14 and a beta of 0.52. The company’s fifty day moving average is $59.76 and its 200 day moving average is $61.13. RLI has a 52-week low of $55.80 and a 52-week high of $79.55.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, March 2nd. RLI’s dividend payout ratio is presently 14.68%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial set a $58.00 price target on shares of RLI in a research report on Friday, January 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of RLI in a research report on Thursday, April 2nd. Zacks Research raised shares of RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Citizens Jmp reissued a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $64.40.

Insiders Place Their Bets

In related news, COO Jennifer L. Klobnak purchased 2,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average cost of $57.99 per share, with a total value of $115,980.00. Following the transaction, the chief operating officer owned 100,318 shares of the company’s stock, valued at $5,817,440.82. This represents a 2.03% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig W. Kliethermes purchased 5,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average cost of $57.45 per share, with a total value of $287,250.00. Following the completion of the transaction, the chief executive officer directly owned 143,990 shares in the company, valued at $8,272,225.50. The trade was a 3.60% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On RLI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of RLI by 115.1% during the 1st quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock valued at $4,529,000 after purchasing an additional 30,170 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of RLI by 110.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock valued at $14,902,000 after purchasing an additional 97,501 shares during the last quarter. Empowered Funds LLC increased its position in shares of RLI by 472.3% during the 1st quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock valued at $2,344,000 after purchasing an additional 24,079 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of RLI by 46.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 493 shares during the last quarter. Finally, Amundi increased its position in shares of RLI by 16,550.0% during the 2nd quarter. Amundi now owns 23,976 shares of the insurance provider’s stock valued at $1,689,000 after purchasing an additional 23,832 shares during the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

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.