RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 2,000 shares of RLI stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $59.68, for a total transaction of $119,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of RLI Corp. (RLI) traded down $0.07 during midday trading on Thursday, reaching $58.35. 186,800 shares of the company traded hands, compared to its average volume of 159,260. The firm has a market cap of $2,580.00, a P/E ratio of 35.41 and a beta of 1.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. RLI Corp. has a 1-year low of $50.34 and a 1-year high of $64.03.
RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.44). The company had revenue of $196.20 million for the quarter, compared to analyst estimates of $195.89 million. RLI had a return on equity of 8.53% and a net margin of 9.97%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. research analysts predict that RLI Corp. will post 1.55 earnings per share for the current year.
The business also recently declared a special dividend, which will be paid on Wednesday, December 27th. Investors of record on Thursday, November 30th will be given a dividend of $1.75 per share. The ex-dividend date is Wednesday, November 29th. This represents a yield of 1.42%. RLI’s dividend payout ratio (DPR) is 46.67%.
Several equities research analysts have issued reports on RLI shares. B. Riley reissued a “neutral” rating on shares of RLI in a report on Monday, November 6th. Zacks Investment Research downgraded shares of RLI from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $55.00 price target on shares of RLI in a research report on Wednesday. Royal Bank Of Canada reiterated an “underperform” rating and set a $51.00 price target (up previously from $50.00) on shares of RLI in a research report on Friday, October 20th. Finally, BidaskClub downgraded shares of RLI from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $47.75.
A number of hedge funds and other institutional investors have recently modified their holdings of RLI. Flinton Capital Management LLC raised its holdings in RLI by 60.3% during the 2nd quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock worth $109,000 after purchasing an additional 752 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in RLI by 64.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 896 shares during the last quarter. Bank of Montreal Can raised its holdings in RLI by 5.8% during the 2nd quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock worth $138,000 after purchasing an additional 139 shares during the last quarter. Zions Bancorporation bought a new stake in RLI during the 3rd quarter worth about $145,000. Finally, Shelton Capital Management bought a new stake in RLI during the 2nd quarter worth about $208,000. Institutional investors and hedge funds own 83.70% of the company’s stock.
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RLI 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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