RLI Corp. to Post FY2021 Earnings of $3.00 Per Share, B. Riley Forecasts (NYSE:RLI)

RLI Corp. (NYSE:RLI) – Stock analysts at B. Riley boosted their FY2021 earnings estimates for RLI in a research report issued to clients and investors on Monday, July 19th. B. Riley analyst R. Binner now forecasts that the insurance provider will post earnings of $3.00 per share for the year, up from their previous estimate of $2.95. B. Riley also issued estimates for RLI’s FY2022 earnings at $3.00 EPS.

RLI (NYSE:RLI) last released its quarterly earnings data on Tuesday, April 20th. The insurance provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.22. The company had revenue of $287.33 million for the quarter, compared to the consensus estimate of $243.09 million. RLI had a return on equity of 11.48% and a net margin of 25.27%. The company’s quarterly revenue was up 143.3% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS.

A number of other equities analysts also recently commented on RLI. Zacks Investment Research downgraded RLI from a “buy” rating to a “hold” rating and set a $106.00 price objective on the stock. in a report on Monday, June 21st. Royal Bank of Canada raised their price objective on RLI from $110.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday, April 23rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $112.25.

RLI stock opened at $106.75 on Tuesday. The stock has a 50-day moving average price of $105.06. The stock has a market cap of $4.83 billion, a P/E ratio of 16.65 and a beta of 0.37. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.13. RLI has a 12 month low of $81.20 and a 12 month high of $117.84.

The business also recently announced a quarterly dividend, which was paid on Friday, June 18th. Stockholders of record on Friday, May 28th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. This is a positive change from RLI’s previous quarterly dividend of $0.24. RLI’s dividend payout ratio (DPR) is 38.61%.

Several hedge funds have recently bought and sold shares of RLI. Norges Bank acquired a new stake in shares of RLI in the fourth quarter valued at about $43,122,000. Port Capital LLC grew its stake in RLI by 18.0% during the 1st quarter. Port Capital LLC now owns 819,424 shares of the insurance provider’s stock valued at $91,423,000 after purchasing an additional 125,006 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in RLI by 3.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,127,741 shares of the insurance provider’s stock valued at $348,964,000 after purchasing an additional 112,606 shares in the last quarter. BlackRock Inc. grew its stake in RLI by 1.9% during the 1st quarter. BlackRock Inc. now owns 4,655,781 shares of the insurance provider’s stock valued at $519,446,000 after purchasing an additional 86,687 shares in the last quarter. Finally, Bragg Financial Advisors Inc grew its stake in RLI by 74.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 140,097 shares of the insurance provider’s stock valued at $15,631,000 after purchasing an additional 59,919 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.

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Earnings History and Estimates for RLI (NYSE:RLI)

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