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.
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.
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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