RLI (NYSE:RLI) Releases Earnings Results, Beats Estimates By $0.06 EPS

RLI (NYSE:RLI) posted its quarterly earnings results on Wednesday, October 16th. The insurance provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06, Bloomberg Earnings reports. The firm had revenue of $228.79 million for the quarter, compared to analysts’ expectations of $229.19 million. RLI had a return on equity of 11.51% and a net margin of 12.91%.

Shares of RLI stock traded up $0.07 during trading hours on Friday, hitting $95.96. 76,181 shares of the company’s stock traded hands, compared to its average volume of 136,723. The company has a fifty day simple moving average of $93.95 and a 200-day simple moving average of $89.30. RLI has a 12-month low of $64.48 and a 12-month high of $99.51. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 46.81 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.38 and a quick ratio of 0.38.

A number of equities analysts recently issued reports on the company. B. Riley reiterated a “neutral” rating on shares of RLI in a report on Tuesday, October 15th. Keefe, Bruyette & Woods increased their target price on RLI from $81.00 to $88.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. ValuEngine cut RLI from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JMP Securities reiterated a “hold” rating on shares of RLI in a report on Monday, September 23rd. Finally, Zacks Investment Research upgraded RLI from a “hold” rating to a “strong-buy” rating and set a $103.00 price objective on the stock in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $83.50.

In related news, Director Michael E. Angelina bought 1,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average price of $90.79 per share, for a total transaction of $90,790.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Stone sold 1,433 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $92.67, for a total value of $132,796.11. The disclosure for this sale can be found here. Company insiders own 5.01% 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.

See Also: What is a conference call?

Earnings History for RLI (NYSE:RLI)

Receive News & Ratings for RLI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLI and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News