Somewhat Positive Press Coverage Somewhat Unlikely to Affect RLI Corp. (RLI) Share Price
Headlines about RLI Corp. (NYSE:RLI) have trended somewhat positive recently, Accern Sentiment reports. The research firm identifies negative and positive media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. RLI Corp. earned a news sentiment score of 0.07 on Accern’s scale. Accern also gave media headlines about the insurance provider an impact score of 45.3197724655299 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news stories that may have impacted Accern’s analysis:
- Zacks Investment Research Downgrades RLI Corp. (RLI) to Hold (americanbankingnews.com)
- RLI CORP. : ex-dividend day (4-traders.com)
- Merkel, Macron urge Russia, Ukraine to step up peace efforts (feeds.reuters.com)
- Select Bank & Trust Names Spainhour Commercial Relationship Manager for Randolph and Alamance Counties (feeds.benzinga.com)
- Merkel has no regrets over refugee policy despite political cost (feeds.reuters.com)
Shares of RLI Corp. (RLI) opened at 53.79 on Wednesday. RLI Corp. has a 52 week low of $52.51 and a 52 week high of $71.46. The firm has a 50-day moving average of $55.57 and a 200 day moving average of $56.74. The firm has a market cap of $2.37 billion, a PE ratio of 23.80 and a beta of 1.21.
RLI Corp. (NYSE:RLI) last released its quarterly earnings results on Wednesday, July 19th. The insurance provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.09. RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The firm had revenue of $196.20 million during the quarter, compared to analyst estimates of $198.09 million. During the same quarter in the prior year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts predict that RLI Corp. will post $2.01 EPS for the current fiscal year.
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 paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.56%. RLI Corp.’s dividend payout ratio (DPR) is presently 37.17%.
Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of RLI Corp. from a “buy” rating to a “hold” rating in a report on Tuesday. FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st. Keefe, Bruyette & Woods set a $51.00 target price on shares of RLI Corp. and gave the stock a “hold” rating in a report on Wednesday, May 24th. ValuEngine raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and set a $50.00 target price on shares of RLI Corp. in a report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. RLI Corp. presently has an average rating of “Hold” and a consensus price target of $47.00.
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In related news, Director Robert P. Restrepo, Jr. acquired 1,200 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average cost of $57.58 per share, for a total transaction of $69,096.00. Following the purchase, the director now owns 7,000 shares in the company, valued at approximately $403,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Stone sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $57.95, for a total value of $173,850.00. 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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