RLI Corp. (NYSE:RLI) announced its earnings results on Wednesday. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.21. RLI Corp. had a net margin of 16.16% and a return on equity of 12.24%.
RLI Corp. (NYSE:RLI) traded down 0.04% during trading on Wednesday, reaching $68.01. The company’s stock had a trading volume of 154,495 shares. The company has a market capitalization of $2.98 billion, a P/E ratio of 23.13 and a beta of 0.91. The firm’s 50-day moving average price is $68.55 and its 200 day moving average price is $67.05. RLI Corp. has a 12-month low of $57.73 and a 12-month high of $71.46.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Wednesday, August 31st were issued 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 1.18%. RLI Corp.’s dividend payout ratio (DPR) is 27.30%.
Separately, Zacks Investment Research downgraded RLI Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Five analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average target price of $59.75.
In related news, Director Robert P. Restrepo, Jr. bought 600 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was purchased at an average price of $70.63 per share, for a total transaction of $42,378.00. Following the acquisition, the director now owns 900 shares in the company, valued at $63,567. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael J. Stone sold 907 shares of RLI Corp. stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $67.39, for a total value of $61,122.73. The disclosure for this sale can be found here. Company insiders own 6.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its position in shares of RLI Corp. by 1.1% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,694 shares of the company’s stock worth $117,000 after buying an additional 19 shares during the period. Pacer Advisors Inc. bought a new position in shares of RLI Corp. during the second quarter worth approximately $252,000. Jefferies Group LLC bought a new position in shares of RLI Corp. during the second quarter worth approximately $346,000. Nomura Holdings Inc. bought a new position in shares of RLI Corp. during the second quarter worth approximately $457,000. Finally, AHL Partners LLP boosted its position in shares of RLI Corp. by 17.5% in the second quarter. AHL Partners LLP now owns 7,395 shares of the company’s stock worth $508,000 after buying an additional 1,099 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.
RLI Corp. Company Profile
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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