Wall Street analysts expect that RLI Corp. (NYSE:RLI) will post earnings of $0.56 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for RLI Corp.’s earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.52. RLI Corp. posted earnings per share of $0.37 in the same quarter last year, which would indicate a positive year-over-year growth rate of 51.4%. The business is scheduled to issue its next quarterly earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that RLI Corp. will report full-year earnings of $2.04 per share for the current financial year, with EPS estimates ranging from $1.95 to $2.13. For the next financial year, analysts forecast that the company will post earnings of $1.94 per share, with EPS estimates ranging from $1.87 to $2.00. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for RLI Corp..
RLI Corp. (NYSE:RLI) last issued its earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The company had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $198.09 million. RLI Corp. had a return on equity of 10.10% and a net margin of 12.38%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS.
A number of equities analysts recently weighed in on RLI shares. FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a research note on Thursday, April 20th. Royal Bank Of Canada reissued a “sell” rating and set a $50.00 price target on shares of RLI Corp. in a research report on Monday, May 22nd. Keefe, Bruyette & Woods set a $51.00 price target on shares of RLI Corp. and gave the stock a “hold” rating in a research report on Wednesday, May 24th. ValuEngine raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $47.00.
In other RLI Corp. news, Director Michael J. Stone sold 947 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $54.76, for a total transaction of $51,857.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael J. Stone sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $55.25, for a total transaction of $276,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,947 shares of company stock worth $501,958 over the last three months. Insiders own 6.09% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of RLI Corp. during the fourth quarter valued at approximately $271,000. Teachers Advisors LLC boosted its stake in shares of RLI Corp. by 12.9% in the fourth quarter. Teachers Advisors LLC now owns 71,333 shares of the insurance provider’s stock valued at $4,503,000 after buying an additional 8,171 shares during the period. Bank of Montreal Can boosted its stake in shares of RLI Corp. by 1.7% in the first quarter. Bank of Montreal Can now owns 2,410 shares of the insurance provider’s stock valued at $144,000 after buying an additional 40 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of RLI Corp. by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the insurance provider’s stock valued at $936,000 after buying an additional 200 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of RLI Corp. by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 4,240 shares of the insurance provider’s stock valued at $254,000 after buying an additional 90 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.
RLI Corp. (NYSE RLI) traded down 0.30% during trading on Thursday, hitting $55.78. The stock had a trading volume of 12,180 shares. The stock’s 50-day moving average is $55.69 and its 200 day moving average is $57.18. RLI Corp. has a one year low of $52.51 and a one year high of $71.46. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 24.68 and a beta of 1.21.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.50%. RLI Corp.’s dividend payout ratio (DPR) is presently 37.17%.
About RLI Corp.
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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