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

RLI (NYSE:RLI) released its quarterly earnings data on Wednesday. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11, FiscalAI reports. The firm had revenue of $575.57 million for the quarter, compared to the consensus estimate of $568.70 million. RLI had a net margin of 20.81% and a return on equity of 17.72%.

RLI Stock Down 1.6%

Shares of RLI stock traded down $0.95 during trading on Wednesday, hitting $59.25. 964,458 shares of the company were exchanged, compared to its average volume of 857,403. RLI has a fifty-two week low of $47.26 and a fifty-two week high of $70.07. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 13.84 and a beta of 0.38. The firm has a 50 day moving average price of $55.28 and a 200 day moving average price of $57.41.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a dividend of $0.18 per share. This is a positive change from RLI’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. RLI’s dividend payout ratio is 16.82%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director David B. Duclos bought 2,500 shares of RLI stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $51.99 per share, for a total transaction of $129,975.00. Following the acquisition, the director owned 9,780 shares in the company, valued at approximately $508,462.20. This trade represents a 34.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Clark C. Kellogg acquired 3,000 shares of RLI stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the purchase, the director directly owned 4,502 shares of the company’s stock, valued at approximately $229,151.80. This trade represents a 199.73% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 16,500 shares of company stock worth $858,955 in the last quarter. Corporate insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On RLI

A number of large investors have recently bought and sold shares of RLI. State Street Corp grew its stake in shares of RLI by 1.4% during the 4th quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock valued at $567,823,000 after buying an additional 124,687 shares during the period. Wasatch Advisors LP increased its holdings in shares of RLI by 65.3% during the 4th quarter. Wasatch Advisors LP now owns 1,938,186 shares of the insurance provider’s stock worth $124,005,000 after buying an additional 765,344 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of RLI by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,899,524 shares of the insurance provider’s stock worth $121,536,000 after buying an additional 112,541 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of RLI by 6.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,641 shares of the insurance provider’s stock worth $71,379,000 after buying an additional 71,361 shares during the period. Finally, Northern Trust Corp boosted its holdings in RLI by 2.6% in the third quarter. Northern Trust Corp now owns 885,111 shares of the insurance provider’s stock valued at $57,727,000 after acquiring an additional 22,128 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

About RLI

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.