RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 907 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $67.39, for a total value of $61,122.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of RLI Corp. (NYSE:RLI) opened at 67.49 on Tuesday. The firm has a market capitalization of $2.96 billion, a PE ratio of 22.96 and a beta of 0.91. RLI Corp. has a 12-month low of $53.58 and a 12-month high of $71.46. The stock has a 50 day moving average price of $68.97 and a 200 day moving average price of $66.95.
RLI Corp. (NYSE:RLI) last released its earnings results on Tuesday, July 19th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm earned $196 million during the quarter, compared to the consensus estimate of $208.20 million. RLI Corp. had a return on equity of 12.24% and a net margin of 16.16%. During the same period in the prior year, the firm posted $0.77 earnings per share. Analysts predict that RLI Corp. will post $2.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Wednesday, August 31st were given a $0.20 dividend. The ex-dividend date was Monday, August 29th. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. RLI Corp.’s dividend payout ratio (DPR) is 27.30%.
A number of large investors have recently added to or reduced their stakes in RLI. Creative Planning increased its stake in RLI Corp. by 160.1% in the second quarter. Creative Planning now owns 17,502 shares of the company’s stock worth $1,204,000 after buying an additional 10,772 shares during the period. CIBC World Markets Inc. bought a new stake in shares of RLI Corp. during the first quarter worth approximately $221,000. First Trust Advisors LP increased its stake in shares of RLI Corp. by 11.7% in the second quarter. First Trust Advisors LP now owns 28,835 shares of the company’s stock worth $1,983,000 after buying an additional 3,022 shares during the period. Princeton Alpha Management LP bought a new stake in shares of RLI Corp. during the second quarter worth approximately $212,000. Finally, Loomis Sayles & Co. L P increased its stake in shares of RLI Corp. by 80.7% in the first quarter. Loomis Sayles & Co. L P now owns 2,702 shares of the company’s stock worth $181,000 after buying an additional 1,207 shares during the period. Hedge funds and other institutional investors own 79.93% of the company’s stock.
Separately, Zacks Investment Research raised RLI Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Five equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of $59.75.
About RLI Corp.
RLI Corp. is a specialty insurance company. The Company operates through three segments: Casualty, Property and Surety. The Casualty segment consists of general liability, personal umbrella, transportation, executive products and commercial umbrella coverages, as well as package business and other specialty coverages.
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