RLI Corp. (NYSE:RLI) has been given an average rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $47.00.
RLI has been the topic of a number of recent analyst reports. FBR & Co reiterated a “hold” rating on shares of RLI Corp. in a research report on Thursday, April 20th. Royal Bank Of Canada reiterated a “sell” rating and issued a $50.00 target price on shares of RLI Corp. in a research report on Monday, May 22nd. Keefe, Bruyette & Woods set a $51.00 price target on RLI Corp. and gave the stock a “hold” rating in a report on Wednesday, May 24th. ValuEngine upgraded RLI Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Monday, July 24th.
RLI Corp. (NYSE RLI) traded down 1.19% during midday trading on Tuesday, hitting $54.93. 178,352 shares of the stock traded hands. The company has a 50-day moving average price of $55.71 and a 200-day moving average price of $57.14. RLI Corp. has a 1-year low of $52.51 and a 1-year high of $71.46. The firm has a market cap of $2.42 billion, a P/E ratio of 24.31 and a beta of 1.21.
RLI Corp. (NYSE:RLI) last released its earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.09. RLI Corp. had a return on equity of 10.10% and a net margin of 12.38%. The firm had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $198.09 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Analysts predict that RLI Corp. will post $2.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Thursday, August 31st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, August 29th. RLI Corp.’s payout ratio is presently 37.17%.
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In other RLI Corp. news, Director Michael J. Stone sold 947 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $54.76, for a total value of $51,857.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Stone sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $55.25, for a total value of $276,250.00. The disclosure for this sale can be found here. Insiders sold 8,947 shares of company stock worth $501,958 over the last quarter. 6.09% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can raised its position in shares of RLI Corp. by 6.4% in the first quarter. Great West Life Assurance Co. Can now owns 53,888 shares of the insurance provider’s stock worth $3,234,000 after buying an additional 3,231 shares during the last quarter. BB&T Corp raised its position in shares of RLI Corp. by 1.6% in the first quarter. BB&T Corp now owns 6,444 shares of the insurance provider’s stock worth $387,000 after buying an additional 100 shares during the last quarter. Whittier Trust Co. raised its position in shares of RLI Corp. by 4.8% in the first quarter. Whittier Trust Co. now owns 31,726 shares of the insurance provider’s stock worth $1,904,000 after buying an additional 1,444 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of RLI Corp. by 100.0% in the first quarter. Russell Investments Group Ltd. now owns 8,600 shares of the insurance provider’s stock valued at $516,000 after buying an additional 4,300 shares during the period. Finally, Glen Harbor Capital Management LLC increased its stake in shares of RLI Corp. by 1.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,184 shares of the insurance provider’s stock valued at $131,000 after buying an additional 28 shares during the period. 81.10% of the stock is currently owned by institutional investors.
RLI Corp. Company Profile
RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.
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