RLI Corp. (NYSE:RLI – Get Free Report) declared a quarterly dividend on Thursday, February 8th, Zacks reports. Stockholders of record on Thursday, February 29th will be given a dividend of 0.27 per share by the insurance provider on Wednesday, March 20th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Wednesday, February 28th.
RLI has increased its dividend by an average of 4.0% per year over the last three years and has increased its dividend every year for the last 49 years. RLI has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RLI to earn $5.82 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 18.6%.
RLI Trading Up 0.7 %
RLI opened at $146.62 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $6.69 billion, a PE ratio of 22.15 and a beta of 0.37. RLI has a fifty-two week low of $123.04 and a fifty-two week high of $149.65. The company’s 50-day moving average is $137.96 and its 200 day moving average is $135.73.
Analyst Upgrades and Downgrades
Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $148.00 price objective on shares of RLI in a research report on Friday, January 26th.
Get Our Latest Analysis on RLI
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Eagle Bay Advisors LLC purchased a new position in shares of RLI during the second quarter valued at approximately $25,000. Compass Wealth Management LLC purchased a new position in shares of RLI during the fourth quarter valued at approximately $32,000. Advisors Asset Management Inc. raised its holdings in shares of RLI by 66.0% during the third quarter. Advisors Asset Management Inc. now owns 556 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 221 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in RLI during the second quarter valued at approximately $65,000. Finally, KBC Group NV purchased a new stake in RLI during the fourth quarter valued at approximately $84,000. 79.23% of the stock is owned by hedge funds and other institutional investors.
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.
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