RLI’s (NYSE:RLI) Neutral Rating Reiterated at B. Riley

B. Riley reissued their neutral rating on shares of RLI Corp. (NYSE:RLI) in a report issued on Monday, November 6th. B. Riley also issued estimates for RLI’s FY2017 earnings at $1.55 EPS, FY2018 earnings at $2.00 EPS and FY2019 earnings at $2.00 EPS.

Several other research analysts also recently commented on the company. Royal Bank Of Canada reiterated an underperform rating and set a $51.00 target price (up from $50.00) on shares of RLI in a research note on Friday, October 20th. Zacks Investment Research downgraded RLI from a hold rating to a sell rating in a research note on Thursday, October 12th. Keefe, Bruyette & Woods set a $51.00 target price on RLI and gave the stock a hold rating in a research note on Wednesday, October 18th. FBR & Co reiterated a hold rating on shares of RLI in a research note on Friday, July 21st. Finally, BidaskClub cut RLI from a hold rating to a sell rating in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. RLI currently has a consensus rating of Hold and an average target price of $46.75.

RLI (RLI) traded down $0.10 during midday trading on Monday, hitting $59.52. The stock had a trading volume of 129,605 shares, compared to its average volume of 136,628. The firm has a market capitalization of $2,626.85, a price-to-earnings ratio of 36.13 and a beta of 1.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. RLI has a 52 week low of $50.34 and a 52 week high of $64.66.

RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.44). The company had revenue of $196.20 million during the quarter, compared to the consensus estimate of $195.89 million. RLI had a net margin of 9.97% and a return on equity of 8.53%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 earnings per share. analysts anticipate that RLI will post 1.55 EPS for the current fiscal year.

The firm also recently declared a special dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Thursday, November 30th will be paid a $1.75 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a dividend yield of 1.42%. RLI’s payout ratio is 46.67%.

In related news, Director Michael J. Stone sold 991 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $57.40, for a total transaction of $56,883.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert P. Restrepo, Jr. acquired 1,026 shares of RLI stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average price of $59.30 per share, for a total transaction of $60,841.80. Following the transaction, the director now directly owns 8,026 shares in the company, valued at $475,941.80. The disclosure for this purchase can be found here. Company insiders own 6.09% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its position in shares of RLI by 0.4% in the 2nd quarter. Jennison Associates LLC now owns 19,597 shares of the insurance provider’s stock valued at $1,070,000 after buying an additional 77 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of RLI by 0.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 32,402 shares of the insurance provider’s stock valued at $1,945,000 after purchasing an additional 89 shares during the period. Stifel Financial Corp lifted its stake in shares of RLI by 0.4% in the 2nd quarter. Stifel Financial Corp now owns 20,371 shares of the insurance provider’s stock valued at $1,118,000 after purchasing an additional 91 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of RLI by 0.7% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,180 shares of the insurance provider’s stock valued at $829,000 after purchasing an additional 100 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of RLI by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 19,994 shares of the insurance provider’s stock valued at $1,092,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 84.59% of the company’s stock.

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RLI Company Profile

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.

Analyst Recommendations for RLI (NYSE:RLI)

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