RLI Corp. (RLI) Releases Earnings Results, Beats Expectations By $0.06 EPS

RLI Corp. (RLI) reported quarterly earnings results on Wednesday, Apr-20-2016. The company said it had a profit of $0.54 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.48. The company posted revenue of $201.70 million in the period, compared to analysts expectations of $194.04 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on RLI Corp.. Company shares were Reiterated by Compass Point on Jan 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 55 from a previous price target of $52 .

RLI Corp. opened for trading at $64.66 and hit $65 on the upside on Monday, eventually ending the session at $64.77, with a gain of 0.17% or 0.11 points. The heightened volatility saw the trading volume jump to 1,61,584 shares. Company has a market cap of $2,823 M.

In a different news, on Mar 14, 2016, Michael J Stone (director) sold 26,607 shares at $64.72 per share price. According to the SEC, on Oct 26, 2015, Todd Wayne Bryant (VP, Finance & Controller) sold 1,000 shares at $60.00 per share price. On Aug 10, 2015, Michael E Angelina (director) purchased 2,700 shares at $55.46 per share price, according to the Form-4 filing with the securities and exchange commission.

RLI Corp. underwrites selected property and casualty insurance through major subsidiaries collectively known as RLI Insurance Group. The Company conducts operations through four insurance companies. These companies are organized in a vertical structure beneath RLI Corp. with RLI Insurance Company (RLI Ins.) as the principal insurance subsidiary. RLI Ins. writes multiple lines of insurance on an admitted basis. Mt. Hawley Insurance Company (Mt. Hawley) a subsidiary of RLI Ins. writes excess and surplus lines insurance on an admitted basis. RLI Indemnity Company (RIC) a subsidiary of Mt. Hawley has authority to write multiple lines of insurance on an admitted basis in 48 states and the District of Columbia. Contractors Bonding and Insurance Company a subsidiary of RLI Ins. has authority to write multiple lines of insurance on an admitted basis in all 50 states and the District of Columbia. The segments of the Company’s insurance operations are casualty property and surety.

RLI Corp.

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