RLI Corp. (RLI) To Go Ex-Dividend on November 29th

RLI Corp. (NYSE:RLI) announced a None dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be paid a dividend of 4.29 per share by the insurance provider on Friday, December 20th. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from RLI’s previous None dividend of $2.25.

RLI has increased its dividend by an average of 4.0% annually over the last three years and has increased its dividend every year for the last 50 years. RLI has a payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect RLI to earn $6.28 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 18.5%.

RLI Trading Up 0.6 %

RLI stock opened at $180.89 on Wednesday. The firm has a 50 day moving average of $162.35 and a 200-day moving average of $151.43. The firm has a market capitalization of $8.29 billion, a P/E ratio of 19.88 and a beta of 0.41. RLI has a 12 month low of $125.77 and a 12 month high of $181.64.

RLI shares are going to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly issued shares will be issued to shareholders after the market closes on Wednesday, January 15th.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.33. The firm had revenue of $470.00 million for the quarter, compared to analysts’ expectations of $491.54 million. RLI had a net margin of 23.77% and a return on equity of 19.03%. The business’s quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Sell-side analysts predict that RLI will post 5.85 EPS for the current year.

Analysts Set New Price Targets

RLI has been the subject of several research reports. Compass Point upped their target price on RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wolfe Research began coverage on shares of RLI in a research report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price target for the company. Jefferies Financial Group lifted their price objective on RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada increased their target price on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer started coverage on RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RLI presently has an average rating of “Moderate Buy” and an average price target of $177.40.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. 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.