RLI Corp. (NYSE:RLI) – Stock analysts at William Blair increased their Q1 2019 earnings per share (EPS) estimates for shares of RLI in a research report issued on Thursday, October 18th, Zacks Investment Research reports. William Blair analyst A. Klauber now expects that the insurance provider will earn $0.55 per share for the quarter, up from their prior forecast of $0.52. William Blair also issued estimates for RLI’s Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.52 EPS, FY2019 earnings at $2.20 EPS, Q1 2020 earnings at $0.54 EPS, Q2 2020 earnings at $0.58 EPS and Q3 2020 earnings at $0.53 EPS.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of RLI from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. B. Riley raised their price target on shares of RLI from $66.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, October 3rd. ValuEngine upgraded shares of RLI from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Royal Bank of Canada upgraded shares of RLI from an “underperform” rating to a “sector perform” rating in a research report on Friday, July 20th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $57.00 target price on shares of RLI in a research report on Friday, July 20th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. RLI presently has an average rating of “Hold” and a consensus price target of $69.33.
RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, October 17th. The insurance provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). RLI had a net margin of 16.64% and a return on equity of 11.39%. The company had revenue of $217.13 million during the quarter, compared to analyst estimates of $214.55 million.
Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio lifted its position in shares of RLI by 58.3% in the 2nd quarter. Strs Ohio now owns 1,900 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 700 shares during the period. FMR LLC acquired a new position in shares of RLI in the 3rd quarter worth approximately $163,000. Tower Research Capital LLC TRC lifted its position in shares of RLI by 184.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,140 shares of the insurance provider’s stock worth $142,000 after purchasing an additional 1,387 shares during the period. Everence Capital Management Inc. acquired a new position in shares of RLI in the 3rd quarter worth approximately $203,000. Finally, Zions Bancorporation acquired a new position in shares of RLI in the 3rd quarter worth approximately $207,000. Hedge funds and other institutional investors own 85.49% of the company’s stock.
In other news, Director Michael J. Stone sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $77.84, for a total value of $389,200.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Stone sold 1,422 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $77.63, for a total transaction of $110,389.86. The disclosure for this sale can be found here. 6.09% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Friday, November 30th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 annualized dividend and a yield of 1.19%. RLI’s dividend payout ratio is presently 54.66%.
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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