RLI Corp. (RLI) Director Michael J. Stone Sells 991 Shares of Stock
RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 991 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $57.40, for a total value of $56,883.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of RLI Corp. (NYSE RLI) opened at 58.26 on Tuesday. The company’s 50-day moving average is $54.37 and its 200-day moving average is $55.90. RLI Corp. has a one year low of $50.34 and a one year high of $69.39. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 25.78 and a beta of 1.24.
RLI Corp. (NYSE:RLI) last posted its earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $198.09 million. During the same quarter last year, the firm earned $0.61 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts predict that RLI Corp. will post $2.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Thursday, August 31st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Tuesday, August 29th. RLI Corp.’s dividend payout ratio (DPR) is presently 37.17%.
Several large investors have recently modified their holdings of RLI. State Street Corp raised its holdings in RLI Corp. by 2.4% in the 2nd quarter. State Street Corp now owns 6,297,222 shares of the insurance provider’s stock valued at $343,954,000 after buying an additional 145,202 shares during the period. BlackRock Inc. lifted its position in RLI Corp. by 11,386.7% in the first quarter. BlackRock Inc. now owns 4,695,862 shares of the insurance provider’s stock valued at $281,845,000 after buying an additional 4,654,981 shares during the last quarter. Vanguard Group Inc. lifted its position in RLI Corp. by 1.1% in the second quarter. Vanguard Group Inc. now owns 4,208,225 shares of the insurance provider’s stock valued at $229,853,000 after buying an additional 45,127 shares during the last quarter. Neuberger Berman Group LLC lifted its position in RLI Corp. by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 2,437,870 shares of the insurance provider’s stock valued at $133,156,000 after buying an additional 15,876 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in RLI Corp. by 3.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,659,570 shares of the insurance provider’s stock valued at $90,646,000 after buying an additional 61,279 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on RLI. FBR & Co reissued a “hold” rating on shares of RLI Corp. in a research note on Friday, July 21st. Zacks Investment Research raised RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Monday, July 24th. Finally, BidaskClub downgraded RLI Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. RLI Corp. currently has a consensus rating of “Hold” and a consensus target price of $46.50.
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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