William Blair Comments on RLI Corp.’s Q1 2018 Earnings (RLI)
RLI Corp. (NYSE:RLI) – Stock analysts at William Blair upped their Q1 2018 earnings per share (EPS) estimates for RLI in a research report issued on Thursday. William Blair analyst A. Klauber now forecasts that the insurance provider will earn $0.50 per share for the quarter, up from their previous forecast of $0.42. William Blair also issued estimates for RLI’s Q4 2018 earnings at $0.52 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.50 EPS, Q3 2019 earnings at $0.48 EPS and Q4 2019 earnings at $0.45 EPS.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of 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 reissued a “hold” rating and set a $55.00 price objective on shares of RLI in a report on Wednesday, December 6th. B. Riley reissued a “neutral” rating on shares of RLI in a report on Monday, November 6th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $51.00 price objective (up previously from $50.00) on shares of RLI in a report on Friday, October 20th. 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 stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.67.
RLI (NYSE:RLI) last issued its earnings results on Wednesday, January 24th. The insurance provider reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.03. RLI had a net margin of 13.17% and a return on equity of 8.21%. The firm had revenue of $202.74 million for the quarter, compared to analysts’ expectations of $197.85 million.
Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp grew its position in shares of RLI by 2.4% during the second quarter. State Street Corp now owns 6,297,222 shares of the insurance provider’s stock worth $343,954,000 after acquiring an additional 145,202 shares during the last quarter. Vanguard Group Inc. grew its position in shares of RLI by 1.1% during the second quarter. Vanguard Group Inc. now owns 4,208,225 shares of the insurance provider’s stock worth $229,853,000 after acquiring an additional 45,127 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of RLI by 3.2% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,712,682 shares of the insurance provider’s stock worth $98,240,000 after acquiring an additional 53,112 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of RLI by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,073,775 shares of the insurance provider’s stock worth $61,593,000 after acquiring an additional 33,357 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of RLI by 2.5% during the second quarter. Northern Trust Corp now owns 967,295 shares of the insurance provider’s stock worth $52,833,000 after acquiring an additional 23,902 shares during the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.
In other news, VP Aaron Paul Diefenthaler sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $64.77, for a total transaction of $58,293.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Stone sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $65.36, for a total transaction of $326,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,041 shares of company stock worth $692,888. 6.09% of the stock is owned by corporate insiders.
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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