RLI (RLI) to Release Quarterly Earnings on Wednesday

Posted by Defense World Staff on Apr 12th, 2023

RLI (NYSE:RLI – Get Rating) will be issuing its quarterly earnings data after the market closes on Wednesday, April 19th. Analysts expect the company to announce earnings of $1.21 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

RLI (NYSE:RLI – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The insurance provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.08 by $0.45. RLI had a net margin of 34.36% and a return on equity of 18.99%. The company had revenue of $360.59 million during the quarter, compared to the consensus estimate of $323.92 million. During the same quarter last year, the firm posted $1.26 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts expect RLI to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

RLI Stock Up 0.7 %

RLI stock opened at $132.68 on Wednesday. The company has a market capitalization of $6.04 billion, a PE ratio of 10.41 and a beta of 0.42. RLI has a 12-month low of $100.96 and a 12-month high of $140.69. The firm’s fifty day moving average is $132.04 and its 200 day moving average is $127.96.

RLI Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 20th. Stockholders of record on Tuesday, February 28th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $1.04 annualized dividend and a dividend yield of 0.78%. RLI’s dividend payout ratio is currently 8.16%.

Insider Activity at RLI

In other RLI news, Director Michael E. Angelina bought 213 shares of the business’s stock in a transaction on Friday, February 24th. The stock was purchased at an average price of $131.41 per share, for a total transaction of $27,990.33. Following the completion of the transaction, the director now directly owns 12,397 shares of the company’s stock, valued at $1,629,089.77. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 5.09% of the stock is owned by company insiders.

Institutional Trading of RLI

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley grew its holdings in RLI by 524.0% during the 4th quarter. Morgan Stanley now owns 1,364,598 shares of the insurance provider’s stock valued at $179,131,000 after buying an additional 1,145,896 shares in the last quarter. Norges Bank purchased a new position in RLI during the fourth quarter valued at approximately $32,847,000. Eaton Vance Management increased its holdings in RLI by 24.4% during the 1st quarter. Eaton Vance Management now owns 594,479 shares of the insurance provider’s stock worth $65,767,000 after acquiring an additional 116,705 shares during the period. Vanguard Group Inc. increased its holdings in RLI by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,659,752 shares of the insurance provider’s stock worth $477,065,000 after acquiring an additional 96,189 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in RLI by 99.6% in the 4th quarter. Alliancebernstein L.P. now owns 190,892 shares of the insurance provider’s stock worth $25,058,000 after purchasing an additional 95,258 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Royal Bank of Canada increased their price target on RLI from $123.00 to $136.00 and gave the stock a “sector perform” rating in a report on Friday, January 27th. StockNews.com started coverage on shares of RLI in a research report on Thursday, March 16th. They set a “hold” rating on the stock.

About RLI

(Get Rating)

RLI Corp. operates as a holding company, which engages in the provision of insurance and underwriting services. It operates through the following segments: Casualty, Property and Surety. The Casualty segment offers healthcare and transportation insurance. The Property segment consists of commercial fire, earthquake, difference in conditions, marine, facultative and treaty reinsurance, including crop and select personal lines policies, including pet insurance and homeowners reinsurance services.