RLI Corp. (RLI) To Go Ex-Dividend on August 31st

RLI Corp. (NYSE:RLI) announced a quarterly dividend on Thursday, August 13th. Investors of record on Monday, August 31st will be paid a dividend of 0.18 per share by the insurance provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, August 31st.

RLI has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 51 years. RLI has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RLI to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 26.0%.

RLI Price Performance

RLI opened at $64.38 on Friday. The business’s 50-day moving average is $61.68 and its two-hundred day moving average is $58.18. RLI has a 1 year low of $47.26 and a 1 year high of $68.29. The firm has a market capitalization of $5.91 billion, a PE ratio of 13.53 and a beta of 0.38.

RLI (NYSE:RLI) last announced its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. RLI had a net margin of 22.22% and a return on equity of 17.61%. The business had revenue of $575.57 million during the quarter, compared to the consensus estimate of $568.70 million. During the same period in the previous year, the company posted $0.82 earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts expect that RLI will post 2.88 EPS for the current year.

Insider Activity at RLI

In related news, Director Clark C. Kellogg acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average cost of $50.90 per share, with a total value of $152,700.00. Following the transaction, the director directly owned 4,502 shares of the company’s stock, valued at $229,151.80. This trade represents a 199.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. UBS Group AG boosted its holdings in RLI by 8.7% in the fourth quarter. UBS Group AG now owns 607,176 shares of the insurance provider’s stock valued at $38,847,000 after purchasing an additional 48,563 shares during the last quarter. Wasatch Advisors LP raised its stake in shares of RLI by 33.1% during the 1st quarter. Wasatch Advisors LP now owns 2,579,955 shares of the insurance provider’s stock valued at $147,161,000 after buying an additional 641,769 shares during the last quarter. Chase Investment Counsel Corp acquired a new position in shares of RLI in the 4th quarter valued at about $1,535,000. Vanguard Group Inc. lifted its holdings in shares of RLI by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock valued at $604,542,000 after buying an additional 310,857 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of RLI by 18.4% in the fourth quarter. Royce & Associates LP now owns 586,402 shares of the insurance provider’s stock worth $37,518,000 after buying an additional 91,073 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

About RLI

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.