RLI Corp. (RLI) To Go Ex-Dividend on March 2nd

RLI Corp. (NYSE:RLI) announced a quarterly dividend on Wednesday, February 18th. Shareholders of record on Monday, March 2nd will be paid a dividend of 0.16 per share by the insurance provider on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, March 2nd.

RLI has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 51 consecutive years. RLI has a payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect RLI to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 20.6%.

RLI Stock Performance

NYSE RLI traded up $0.93 during trading hours on Friday, reaching $62.41. The stock had a trading volume of 601,157 shares, compared to its average volume of 750,603. The stock has a fifty day moving average of $61.05 and a 200 day moving average of $63.06. The stock has a market cap of $5.74 billion, a P/E ratio of 14.31 and a beta of 0.53. RLI has a 52-week low of $55.80 and a 52-week high of $81.79.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.18. The business had revenue of $465.69 million during the quarter, compared to analysts’ expectations of $447.53 million. RLI had a return on equity of 18.67% and a net margin of 21.43%.During the same quarter in the previous year, the firm posted $0.41 EPS. On average, equities research analysts forecast that RLI will post 3.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RLI shares. Truist Financial set a $58.00 price target on RLI in a report on Friday, January 23rd. Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Friday, January 23rd. Wells Fargo & Company set a $59.00 target price on RLI and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Finally, Citizens Jmp reiterated a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $65.20.

RLI Company Profile

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.