RLI Corp. (NYSE:RLI) – Research analysts at B. Riley increased their FY2019 EPS estimates for RLI in a research note issued to investors on Monday, February 11th. B. Riley analyst R. Binner now forecasts that the insurance provider will earn $2.30 per share for the year, up from their previous estimate of $2.20. B. Riley also issued estimates for RLI’s FY2020 earnings at $2.30 EPS.
RLI (NYSE:RLI) last released its earnings results on Wednesday, January 23rd. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.24. RLI had a return on equity of 10.96% and a net margin of 7.84%. The firm had revenue of $220.96 million for the quarter, compared to analysts’ expectations of $217.97 million. During the same quarter in the previous year, the business posted $1.21 earnings per share.
Other analysts have also recently issued reports about the company. Compass Point initiated coverage on RLI in a report on Tuesday, January 15th. They set a “sell” rating and a $48.00 price target on the stock. TheStreet cut RLI from a “b” rating to a “c” rating in a report on Wednesday, January 23rd. Finally, Zacks Investment Research restated a “hold” rating on shares of RLI in a report on Monday, December 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. RLI currently has a consensus rating of “Hold” and an average target price of $63.50.
RLI stock opened at $69.12 on Tuesday. RLI has a 12-month low of $60.06 and a 12-month high of $79.98. The company has a current ratio of 0.36, a quick ratio of 0.37 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 33.72 and a beta of 0.92.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Thursday, February 28th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, February 27th. RLI’s dividend payout ratio (DPR) is currently 42.93%.
In related news, Director Michael J. Stone sold 1,540 shares of the company’s stock in a transaction that occurred on Thursday, January 3rd. The stock was sold at an average price of $67.07, for a total value of $103,287.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Stone sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The shares were sold at an average price of $65.43, for a total value of $261,720.00. The disclosure for this sale can be found here. Insiders own 5.54% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Murphy Pohlad Asset Management LLC bought a new stake in RLI in the fourth quarter valued at approximately $27,000. Intercontinental Wealth Advisors LLC bought a new stake in RLI in the fourth quarter valued at approximately $47,000. BlueMountain Capital Management LLC bought a new stake in RLI in the third quarter valued at approximately $121,000. FMR LLC bought a new stake in RLI in the third quarter valued at approximately $163,000. Finally, Ffcm LLC boosted its holdings in RLI by 1,966.4% in the fourth quarter. Ffcm LLC now owns 2,397 shares of the insurance provider’s stock valued at $165,000 after acquiring an additional 2,281 shares during the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.
RLI Company Profile
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.
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