RLI Corp. (NYSE:RLI) Expected to Announce Quarterly Sales of $198.31 Million
Equities analysts expect RLI Corp. (NYSE:RLI) to report sales of $198.31 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for RLI Corp.’s earnings. The highest sales estimate is $200.10 million and the lowest is $196.51 million. RLI Corp. posted sales of $197.10 million in the same quarter last year, which suggests a positive year over year growth rate of 0.6%. The business is expected to issue its next quarterly earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that RLI Corp. will report full-year sales of $198.31 million for the current fiscal year, with estimates ranging from $787.91 million to $795.80 million. For the next year, analysts expect that the firm will post sales of $808.14 million per share, with estimates ranging from $794.87 million to $821.40 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow RLI Corp..
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. The company had revenue of $196.20 million during the quarter, compared to analyst estimates of $198.09 million. RLI Corp. had a return on equity of 10.10% and a net margin of 12.38%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share.
Several equities analysts have recently issued reports on RLI shares. Zacks Investment Research raised shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Monday, July 24th. FBR & Co reissued a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st. ValuEngine raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods set a $51.00 price target on shares of RLI Corp. and gave the company a “hold” rating in a report on Wednesday, May 24th. Finally, BidaskClub lowered shares of RLI Corp. from a “hold” rating to a “sell” rating in a report on Friday. Two 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 an average price target of $47.00.
Shares of RLI Corp. (NYSE:RLI) opened at 54.93 on Friday. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 24.31 and a beta of 1.21. RLI Corp. has a 12-month low of $52.51 and a 12-month high of $71.46. The stock has a 50 day moving average price of $55.71 and a 200-day moving average price of $57.14.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Thursday, August 31st will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.84 annualized dividend and a yield of 1.53%. RLI Corp.’s dividend payout ratio is currently 37.17%.
In related news, Director Michael J. Stone sold 947 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $54.76, for a total value of $51,857.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael J. Stone sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $55.25, for a total transaction of $276,250.00. The disclosure for this sale can be found here. Insiders sold a total of 8,947 shares of company stock worth $501,958 over the last ninety days. 6.09% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of RLI. Virtu KCG Holdings LLC bought a new stake in RLI Corp. during the second quarter valued at approximately $250,000. Citadel Advisors LLC boosted its stake in RLI Corp. by 624.1% in the second quarter. Citadel Advisors LLC now owns 95,583 shares of the insurance provider’s stock valued at $5,221,000 after buying an additional 82,382 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in RLI Corp. by 13.9% in the second quarter. Parametric Portfolio Associates LLC now owns 98,136 shares of the insurance provider’s stock valued at $5,360,000 after buying an additional 11,981 shares in the last quarter. M&T Bank Corp boosted its stake in RLI Corp. by 6.0% in the second quarter. M&T Bank Corp now owns 10,163 shares of the insurance provider’s stock valued at $555,000 after buying an additional 578 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in RLI Corp. by 4.8% in the second quarter. California Public Employees Retirement System now owns 111,400 shares of the insurance provider’s stock valued at $6,085,000 after buying an additional 5,100 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.
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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