RLI Corp. (NYSE:RLI)‘s stock had its “sell” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report issued on Monday. They presently have a $50.00 target price on the insurance provider’s stock. Royal Bank of Canada’s price objective indicates a potential downside of 7.82% from the company’s previous close.

Several other research firms have also recently weighed in on RLI. FBR & Co reissued a “hold” rating on shares of RLI Corp. in a report on Thursday, April 20th. Zacks Investment Research raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, March 15th.

RLI Corp. (NYSE:RLI) opened at 54.24 on Monday. The company has a market capitalization of $2.38 billion, a P/E ratio of 23.28 and a beta of 1.12. The stock’s 50 day moving average is $56.72 and its 200-day moving average is $59.12. RLI Corp. has a 52-week low of $52.51 and a 52-week high of $71.46.

RLI Corp. (NYSE:RLI) last released its quarterly earnings data on Wednesday, April 19th. The insurance provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.05. RLI Corp. had a net margin of 14.08% and a return on equity of 10.22%. The company had revenue of $196.90 million for the quarter, compared to analysts’ expectations of $199.01 million. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts predict that RLI Corp. will post $1.95 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.55%. This is a boost from RLI Corp.’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, May 26th. RLI Corp.’s payout ratio is presently 31.01%.

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In related news, Director Michael J. Stone sold 941 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $58.89, for a total transaction of $55,415.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert P. Restrepo, Jr. bought 2,325 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The shares were acquired at an average price of $56.02 per share, with a total value of $130,246.50. Following the completion of the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $106,438. The disclosure for this purchase can be found here. 6.30% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Meadow Creek Investment Management LLC raised its stake in shares of RLI Corp. by 1.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,716 shares of the insurance provider’s stock valued at $103,000 after buying an additional 22 shares during the period. Glen Harbor Capital Management LLC raised its stake in shares of RLI Corp. by 1.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,184 shares of the insurance provider’s stock valued at $131,000 after buying an additional 28 shares during the period. Bank of Montreal Can raised its stake in shares of RLI Corp. by 1.7% in the first quarter. Bank of Montreal Can now owns 2,410 shares of the insurance provider’s stock valued at $144,000 after buying an additional 40 shares during the period. Elkfork Partners LLC acquired a new stake in shares of RLI Corp. during the fourth quarter valued at about $165,000. Finally, Quantbot Technologies LP acquired a new stake in shares of RLI Corp. during the first quarter valued at about $175,000. Institutional investors own 79.46% of the company’s stock.

RLI Corp. 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.

12 Month Chart for NYSE:RLI

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