RLI Corp. (RLI) To Go Ex-Dividend on August 31st

RLI Corp. (NYSE:RLI – Get Free Report) announced a quarterly dividend on Thursday, August 13th. Shareholders of record on Monday, August 31st will be given a dividend of 0.18 per share by the insurance provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st.

RLI has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 51 consecutive years. RLI has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RLI to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 26.0%.

Get RLI alerts:

RLI Stock Performance

RLI stock opened at $63.80 on Friday. The company’s 50 day moving average price is $59.42 and its 200 day moving average price is $57.80. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 13.40 and a beta of 0.38. RLI has a fifty-two week low of $47.26 and a fifty-two week high of $69.19.

RLI (NYSE:RLI – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. RLI had a net margin of 22.22% and a return on equity of 17.61%. The company had revenue of $575.57 million during the quarter, compared to the consensus estimate of $568.70 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. Equities analysts forecast that RLI will post 2.88 EPS for the current fiscal year.

Insider Activity at RLI

In other news, Director Clark C. Kellogg acquired 3,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were bought at an average price of $50.90 per share, with a total value of $152,700.00. Following the completion of the acquisition, the director owned 4,502 shares in the company, valued at $229,151.80. This trade represents a 199.73% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Craig W. Kliethermes acquired 5,000 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of $52.00 per share, for a total transaction of $260,000.00. Following the acquisition, the chief executive officer owned 148,990 shares of the company’s stock, valued at approximately $7,747,480. The trade was a 3.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 16,500 shares of company stock worth $858,955. Insiders own 2.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in RLI by 94.4% in the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after buying an additional 201 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of RLI by 156.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 283 shares during the period. IFP Advisors Inc raised its position in RLI by 85.9% in the 4th quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 316 shares during the last quarter. Advisory Services Network LLC acquired a new stake in RLI during the 3rd quarter worth $47,000. Finally, Versant Capital Management Inc boosted its stake in RLI by 28.5% during the 2nd quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

About RLI

(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.

Recommended Stories

• Five stocks we like better than RLI
• MarketBeat Week in Review – 08/10 – 08/14
• Sony and TSMC’s $4.7 Billion Venture Is About More Than Camera Sensors
• Quantum Leaps: Debt-Free as AI Storage Demand Accelerates
• NVIDIA’s $500 Billion GPU Financing Deal Fuels Path Toward $270

Receive News & Ratings for RLI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLI and related companies with MarketBeat.com's FREE daily email newsletter.