RLI Corp. (NYSE:RLI) – Stock analysts at B. Riley dropped their FY2018 earnings estimates for shares of RLI in a note issued to investors on Tuesday. B. Riley analyst R. Binner now anticipates that the insurance provider will post earnings of $2.25 per share for the year, down from their prior forecast of $2.35. B. Riley currently has a “Neutral” rating on the stock. B. Riley also issued estimates for RLI’s FY2019 earnings at $2.25 EPS.
Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded RLI from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $55.00 price objective on shares of RLI in a report on Wednesday, December 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $51.00 price objective (up from $50.00) on shares of RLI in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.67.
RLI (NYSE:RLI) traded up $0.64 during mid-day trading on Thursday, reaching $62.71. The company had a trading volume of 6,242 shares, compared to its average volume of 197,104. The company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. RLI has a 12 month low of $50.34 and a 12 month high of $65.68. The firm has a market cap of $2,667.82, a PE ratio of 37.84 and a beta of 1.27.
RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, January 24th. The insurance provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.03. RLI had a return on equity of 8.21% and a net margin of 13.17%. The company had revenue of $202.74 million for the quarter, compared to analysts’ expectations of $197.85 million.
Several institutional investors have recently modified their holdings of the company. Flinton Capital Management LLC increased its holdings in RLI by 60.3% in the second quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock valued at $109,000 after buying an additional 752 shares in the last quarter. Zions Bancorporation purchased a new position in RLI in the third quarter valued at about $145,000. Shelton Capital Management purchased a new position in RLI in the second quarter valued at about $208,000. Vident Investment Advisory LLC purchased a new position in RLI in the fourth quarter valued at about $214,000. Finally, CIBC Asset Management Inc purchased a new position in RLI in the fourth quarter valued at about $225,000. Institutional investors and hedge funds own 84.02% of the company’s stock.
In other news, Director Michael J. Stone sold 1,141 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $59.40, for a total transaction of $67,775.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Aaron Paul Diefenthaler sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $64.77, for a total value of $58,293.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,041 shares of company stock worth $692,888. Insiders own 6.09% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Tuesday, February 27th. RLI’s dividend payout ratio is currently 35.44%.
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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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