B. Riley reiterated their neutral rating on shares of RLI Corp. (NYSE:RLI) in a research note published on Monday, November 6th. B. Riley also issued estimates for RLI Corp.’s FY2017 earnings at $1.55 EPS, FY2018 earnings at $2.00 EPS and FY2019 earnings at $2.00 EPS.
Several other brokerages also recently issued reports on RLI. Royal Bank Of Canada restated an underperform rating and issued a $51.00 price objective (up previously from $50.00) on shares of RLI Corp. in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of RLI Corp. from a hold rating to a sell rating in a research note on Thursday, October 12th. Keefe, Bruyette & Woods set a $51.00 price target on shares of RLI Corp. 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 Corp. in a research note on Friday, July 21st. Finally, BidaskClub downgraded shares of RLI Corp. from a hold rating to a sell rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. RLI Corp. has a consensus rating of Hold and a consensus price target of $46.75.
RLI Corp. (NYSE RLI) traded down $0.28 during trading hours on Monday, hitting $59.14. 309,426 shares of the stock were exchanged, compared to its average volume of 145,384. RLI Corp. has a 12 month low of $50.34 and a 12 month high of $64.66. The company has a market capitalization of $2,605.71, a price-to-earnings ratio of 35.84 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 Corp. (NYSE:RLI) last announced its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.44). The company had revenue of $196.20 million during the quarter, compared to analyst estimates of $195.89 million. RLI Corp. had a return on equity of 8.53% and a net margin of 9.97%. The company’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 EPS. research analysts expect that RLI Corp. 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. Investors of record on Thursday, November 30th will be issued a $1.75 dividend. The ex-dividend date is Wednesday, November 29th. This represents a dividend yield of 1.42%. RLI Corp.’s dividend payout ratio is 46.67%.
In other RLI Corp. news, Director Michael J. Stone sold 991 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert P. Restrepo, Jr. bought 1,026 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were bought at an average price of $59.30 per share, with a total value of $60,841.80. Following the completion of the transaction, the director now directly owns 8,026 shares in the company, valued at approximately $475,941.80. The disclosure for this purchase can be found here. Insiders own 6.09% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Flinton Capital Management LLC grew its position in shares of RLI Corp. by 60.3% during the 2nd quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock worth $109,000 after buying an additional 752 shares during the period. Riverhead Capital Management LLC grew its position in shares of RLI Corp. by 64.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock worth $125,000 after buying an additional 896 shares during the period. Bank of Montreal Can grew its position in shares of RLI Corp. by 5.8% during the 2nd quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock worth $138,000 after buying an additional 139 shares during the period. Zions Bancorporation acquired a new position in shares of RLI Corp. during the 3rd quarter worth about $145,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of RLI Corp. during the 1st quarter worth about $203,000. Institutional investors own 83.49% of the company’s stock.
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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