RLI (NYSE:RLI) Posts Earnings Results, Misses Estimates By $0.64 EPS

RLI (NYSE:RLI) announced its quarterly earnings data on Wednesday. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64), Zacks reports. RLI had a net margin of 23.77% and a return on equity of 19.03%.

RLI Trading Up 0.2 %

Shares of NYSE RLI traded up $0.14 during trading hours on Wednesday, hitting $78.11. 619,149 shares of the company traded hands, compared to its average volume of 490,349. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 17.17 and a beta of 0.47. The company’s 50 day moving average price is $83.53 and its 200 day moving average price is $78.80. RLI has a 12 month low of $67.04 and a 12 month high of $91.14.

RLI Cuts Dividend

The business also recently announced a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a dividend of $2.145 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, November 29th. RLI’s dividend payout ratio is currently 12.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RLI shares. Royal Bank of Canada boosted their price target on RLI from $81.00 to $82.50 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Oppenheimer started coverage on RLI in a report on Wednesday, October 16th. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods lowered their price target on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Wolfe Research started coverage on RLI in a report on Wednesday, October 9th. They issued an “outperform” rating and a $91.00 price target on the stock. Finally, Compass Point boosted their price target on RLI from $85.00 to $92.50 and gave the stock a “buy” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.20.

Insider Buying and Selling at RLI

In other RLI news, Director Michael J. Stone sold 400 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $84.78, for a total value of $33,910.00. Following the transaction, the director now owns 429,622 shares of the company’s stock, valued at $36,421,205.05. This represents a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.91% of the stock is currently owned by corporate insiders.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.