RLI (RLI) Projected to Post Quarterly Earnings on Wednesday

RLI (NYSE:RLI) is projected to announce its earnings results after the market closes on Wednesday, January 22nd. Analysts expect the company to announce earnings of $1.05 per share and revenue of $435,020.80 billion for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

RLI (NYSE:RLI) last released its earnings results on Monday, October 21st. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.17. RLI had a net margin of 23.77% and a return on equity of 19.03%. The business had revenue of $470.00 million for the quarter, compared to analysts’ expectations of $491.54 million. During the same period last year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up 41.7% on a year-over-year basis. On average, analysts expect RLI to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

RLI Stock Performance

Shares of RLI stock opened at $77.79 on Monday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 8.55 and a beta of 0.47. The company has a 50 day moving average price of $83.90 and a 200 day moving average price of $78.68. RLI has a one year low of $67.04 and a one year high of $91.14.

RLI Cuts Dividend

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

Insider Buying and Selling at RLI

In other news, Director Michael J. Stone sold 400 shares of RLI stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $84.78, for a total transaction of $33,910.00. Following the sale, the director now directly owns 429,622 shares of the company’s stock, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.91% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

About RLI

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.