RLI Corp. (RLI) Receiving Somewhat Favorable Press Coverage, Study Finds
News coverage about RLI Corp. (NYSE:RLI) has been trending somewhat positive on Saturday, according to Accern Sentiment. The research group ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. RLI Corp. earned a daily sentiment score of 0.06 on Accern’s scale. Accern also assigned news stories about the insurance provider an impact score of 46.5006446973204 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the news stories that may have impacted Accern Sentiment’s analysis:
- Merkel says three-way coalition can work; Greens skeptical (feeds.reuters.com)
- Premier High School Opens 35th Texas Campus in Arlington (feeds.benzinga.com)
- UPDATE 1-Air France-KLM profit jumps as price trends improve (feeds.reuters.com)
- Germany records surge in refugees as Merkel seeks new migrant policy (feeds.reuters.com)
- Sapiens Announces RLI’s Selection of the StoneRiver Stream Billing System (finance.yahoo.com)
Shares of RLI Corp. (NYSE:RLI) opened at $58.95 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 35.92 and a beta of 1.27.
RLI Corp. (NYSE:RLI) last issued its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.44). The business had revenue of $196.20 million during the quarter, compared to the consensus estimate of $195.89 million. RLI Corp. had a return on equity of 8.53% and a net margin of 9.97%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. analysts predict that RLI Corp. will post 1.55 earnings per share for the current year.
RLI has been the topic of several analyst reports. Zacks Investment Research downgraded shares of RLI Corp. from a “buy” rating to a “hold” rating in a report on Monday, September 18th. 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, October 18th. BidaskClub downgraded shares of RLI Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Royal Bank Of Canada reiterated an “underperform” rating and set a $51.00 price target (up from $50.00) on shares of RLI Corp. in a report on Friday, October 20th. Finally, FBR & Co reiterated a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $46.75.
In other news, Director Michael E. Angelina acquired 1,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average cost of $54.41 per share, for a total transaction of $54,410.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Stone sold 991 shares of the business’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 disclosure for this sale can be found here. Insiders own 6.09% of the company’s stock.
About RLI Corp.
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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