RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $77.84, for a total transaction of $389,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of NYSE:RLI traded up $0.23 during trading on Friday, reaching $78.28. The company had a trading volume of 2,733 shares, compared to its average volume of 105,293. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 48.48 and a beta of 1.26. RLI Corp. has a 12 month low of $50.34 and a 12 month high of $78.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.35 and a quick ratio of 0.35.
RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, July 18th. The insurance provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The firm had revenue of $211.10 million for the quarter, compared to analyst estimates of $208.39 million. RLI had a net margin of 12.91% and a return on equity of 9.13%. During the same quarter in the prior year, the firm earned $0.61 EPS. equities research analysts expect that RLI Corp. will post 2.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Friday, August 31st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, August 30th. RLI’s payout ratio is 54.66%.
Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of RLI by 2.6% in the 1st quarter. Wells Fargo & Company MN now owns 397,966 shares of the insurance provider’s stock valued at $25,227,000 after purchasing an additional 10,049 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of RLI by 1.2% in the 1st quarter. Rhumbline Advisers now owns 101,161 shares of the insurance provider’s stock valued at $6,413,000 after purchasing an additional 1,230 shares in the last quarter. Comerica Bank boosted its stake in shares of RLI by 2.9% in the 1st quarter. Comerica Bank now owns 41,402 shares of the insurance provider’s stock valued at $2,656,000 after purchasing an additional 1,168 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of RLI by 50.3% in the 1st quarter. SG Americas Securities LLC now owns 8,454 shares of the insurance provider’s stock valued at $536,000 after purchasing an additional 2,831 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of RLI by 0.4% in the 1st quarter. Victory Capital Management Inc. now owns 427,972 shares of the insurance provider’s stock valued at $27,129,000 after purchasing an additional 1,912 shares in the last quarter. 85.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on RLI. B. Riley upped their target price on shares of RLI from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. ValuEngine raised shares of RLI from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Zacks Investment Research raised shares of RLI from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Monday, July 23rd. Royal Bank of Canada raised shares of RLI from an “underperform” rating to a “sector perform” rating in a report on Friday, July 20th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $57.00 price target on shares of RLI in a report on Friday, July 20th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. RLI presently has an average rating of “Hold” and a consensus price target of $63.25.
RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, real estate investment trusts, and mercantile.
Further Reading: Moving Average – How it Helps Investors in Stock Selection
Receive News & Ratings for RLI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLI and related companies with MarketBeat.com's FREE daily email newsletter.