Brokerages Expect RLI Corp. (NYSE:RLI) to Announce $0.67 EPS
Shares of RLI Corp. (NYSE:RLI) have been assigned a consensus broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating.
Brokerages have set a one year consensus target price of $56.00 for the company and are expecting that the company will post $0.67 earnings per share for the current quarter, according to Zacks. Zacks has also given RLI Corp. an industry rank of 194 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded RLI Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th.
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Shares of RLI Corp. (NYSE:RLI) traded up 0.70% on Monday, reaching $68.64. 13,312 shares of the company’s stock traded hands. The firm’s 50 day moving average is $68.86 and its 200 day moving average is $66.97. RLI Corp. has a 52 week low of $55.36 and a 52 week high of $71.46. The firm has a market capitalization of $3.01 billion, a P/E ratio of 23.35 and a beta of 0.91.
RLI Corp. (NYSE:RLI) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. RLI Corp. had a return on equity of 12.24% and a net margin of 16.16%. The business had revenue of $196 million for the quarter, compared to analyst estimates of $208.20 million. During the same quarter in the previous year, the firm earned $0.77 EPS. Analysts expect that RLI Corp. will post $2.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Investors 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 annualized dividend and a yield of 1.17%. RLI Corp.’s dividend payout ratio (DPR) is currently 27.30%.
In related news, Director Robert P. Restrepo, Jr. acquired 600 shares of RLI Corp. stock in a transaction that occurred on Friday, August 26th. The shares were purchased at an average cost 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Stone sold 907 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $67.39, for a total transaction of $61,122.73. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new position in RLI Corp. during the second quarter valued at $116,000. O Shaughnessy Asset Management LLC increased its position in RLI Corp. by 1.1% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,694 shares of the company’s stock valued at $117,000 after buying an additional 19 shares in the last quarter. Loomis Sayles & Co. L P increased its position in RLI Corp. by 80.7% in the first quarter. Loomis Sayles & Co. L P now owns 2,702 shares of the company’s stock valued at $181,000 after buying an additional 1,207 shares in the last quarter. Bank of Montreal Can purchased a new position in RLI Corp. during the second quarter valued at $181,000. Finally, Princeton Alpha Management LP purchased a new position in RLI Corp. during the second quarter valued at $212,000. Hedge funds and other institutional investors own 79.93% 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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