RLI Corp. (NYSE:RLI) – Equities researchers at B. Riley lifted their FY2021 EPS estimates for RLI in a research note issued to investors on Tuesday, May 18th. B. Riley analyst R. Binner now anticipates that the insurance provider will post earnings of $2.95 per share for the year, up from their prior forecast of $2.75. B. Riley has a “Buy” rating and a $130.00 price objective on the stock. B. Riley also issued estimates for RLI’s FY2022 earnings at $2.95 EPS.
Separately, Royal Bank of Canada boosted their target price on shares of RLI from $110.00 to $115.00 and gave the company a “sector perform” rating in a research note on Friday, April 23rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $112.50.
Shares of NYSE:RLI opened at $106.14 on Thursday. RLI has a 52 week low of $71.97 and a 52 week high of $117.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.38 and a current ratio of 0.38. The company’s fifty day moving average is $112.75 and its 200-day moving average is $105.93. The company has a market capitalization of $4.80 billion, a PE ratio of 38.04 and a beta of 0.37. RLI (NYSE:RLI) last issued its earnings results on Tuesday, April 20th. The insurance provider reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.22. RLI had a net margin of 13.42% and a return on equity of 11.05%. The company had revenue of $287.33 million for the quarter, compared to the consensus estimate of $243.09 million. During the same quarter in the previous year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 143.3% compared to the same quarter last year.
Several hedge funds have recently made changes to their positions in RLI. FMR LLC increased its stake in shares of RLI by 6.2% in the 1st quarter. FMR LLC now owns 2,342 shares of the insurance provider’s stock valued at $168,000 after acquiring an additional 136 shares during the last quarter. OLD National Bancorp IN bought a new stake in RLI during the 4th quarter worth approximately $725,000. Nisa Investment Advisors LLC increased its stake in RLI by 6.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 42,350 shares of the insurance provider’s stock worth $4,411,000 after purchasing an additional 2,560 shares in the last quarter. XTX Markets LLC bought a new stake in RLI during the 4th quarter worth approximately $272,000. Finally, Wolff Wiese Magana LLC bought a new stake in RLI during the 4th quarter worth approximately $36,000. 84.37% of the stock is owned by institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 18th. Stockholders of record on Friday, May 28th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 27th. This is a boost from RLI’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. RLI’s dividend payout ratio is 37.35%.
RLI Company Profile
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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