RLI Corp. (RLI) Set to Announce Quarterly Earnings on Wednesday
RLI Corp. (NYSE:RLI) will be releasing its earnings data after the market closes on Wednesday, October 19th. Analysts expect RLI Corp. to post earnings of $0.58 per share for the quarter.
RLI Corp. (NYSE:RLI) last issued its earnings results on Tuesday, July 19th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. RLI Corp. had a net margin of 16.16% and a return on equity of 12.24%. The company had revenue of $196 million for the quarter, compared to analysts’ expectations of $208.20 million. During the same quarter last year, the company posted $0.77 earnings per share. On average, analysts expect RLI Corp. to post $2.37 EPS for the current fiscal year and $2.33 EPS for the next fiscal year.
Shares of RLI Corp. (NYSE:RLI) opened at 68.12 on Tuesday. The stock has a market cap of $2.98 billion, a PE ratio of 23.17 and a beta of 0.91. RLI Corp. has a one year low of $56.67 and a one year high of $71.46. The company has a 50-day moving average of $68.63 and a 200 day moving average of $67.05.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Wednesday, August 31st were given 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 27.30%.
Separately, Zacks Investment Research cut shares of RLI Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Five research analysts have rated the stock with a hold rating, RLI Corp. presently has a consensus rating of “Hold” and a consensus target price of $59.75.
In related news, Director Michael J. Stone sold 907 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $67.39, for a total transaction of $61,122.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 price of $70.63 per share, with a total value of $42,378.00. Following the purchase, the director now owns 900 shares in the company, valued at $63,567. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of RLI. O Shaughnessy Asset Management LLC raised 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 during the period. Pacer Advisors Inc. purchased a new position in RLI Corp. during the second quarter valued at approximately $252,000. Jefferies Group LLC purchased a new position in RLI Corp. during the second quarter valued at approximately $346,000. Nomura Holdings Inc. purchased a new position in RLI Corp. during the second quarter valued at approximately $457,000. Finally, AHL Partners LLP raised its position in RLI Corp. by 17.5% in the second quarter. AHL Partners LLP now owns 7,395 shares of the company’s stock valued at $508,000 after buying an additional 1,099 shares during the period. Hedge funds and other institutional investors own 79.91% 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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