RLI (NYSE:RLI) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

RLI (NYSE:RLIGet Free Report) released its quarterly earnings results on Wednesday. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.72 by $0.11, FiscalAI reports. RLI had a net margin of 20.81% and a return on equity of 17.72%.

RLI Stock Down 1.6%

RLI traded down $0.95 on Wednesday, reaching $59.25. The company had a trading volume of 964,458 shares, compared to its average volume of 854,320. RLI has a 1 year low of $47.26 and a 1 year high of $70.07. The stock has a market capitalization of $5.45 billion, a PE ratio of 13.84 and a beta of 0.38. The stock has a 50-day moving average price of $55.28 and a 200-day moving average price of $57.41.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. This is a boost from RLI’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 29th. RLI’s dividend payout ratio is presently 16.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RLI shares. Wall Street Zen cut RLI from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Research raised RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Weiss Ratings lowered shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Keefe, Bruyette & Woods lifted their target price on shares of RLI from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company lifted their price objective on RLI from $55.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.50.

Get Our Latest Stock Analysis on RLI

Insider Transactions at RLI

In other news, COO Jennifer L. Klobnak acquired 2,000 shares of RLI stock in a transaction on Wednesday, May 27th. The stock was bought at an average price of $52.72 per share, for a total transaction of $105,440.00. Following the completion of the purchase, the chief operating officer owned 104,318 shares in the company, valued at $5,499,644.96. This represents a 1.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Craig W. Kliethermes acquired 2,000 shares of RLI stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of $52.00 per share, with a total value of $104,000.00. Following the purchase, the chief executive officer owned 150,990 shares of the company’s stock, valued at $7,851,480. The trade was a 1.34% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 16,500 shares of company stock worth $858,955 over the last three months. 2.39% of the stock is currently owned by company insiders.

Institutional Trading of RLI

Several institutional investors and hedge funds have recently bought and sold shares of RLI. Northwestern Mutual Wealth Management Co. boosted its stake in RLI by 156.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 283 shares during the period. Advisory Services Network LLC purchased a new position in shares of RLI in the 3rd quarter valued at approximately $47,000. Danske Bank A S purchased a new position in shares of RLI in the 3rd quarter valued at approximately $59,000. CIBC Private Wealth Group LLC increased its holdings in shares of RLI by 283.2% in the third quarter. CIBC Private Wealth Group LLC now owns 958 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 708 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of RLI by 86.4% during the third quarter. Parallel Advisors LLC now owns 1,454 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Company Profile

(Get Free Report)

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.

See Also

Earnings History for RLI (NYSE:RLI)

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