RLI Corp. (RLI) Earns Hold Rating from FBR & Co
RLI Corp. (NYSE:RLI)‘s stock had its “hold” rating restated by equities research analysts at FBR & Co in a note issued to investors on Friday.
RLI has been the topic of several other research reports. Royal Bank Of Canada restated a “sell” rating and set a $50.00 target price on shares of RLI Corp. in a report on Monday, May 22nd. ValuEngine upgraded RLI Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods set a $51.00 target price on RLI Corp. and gave the stock a “hold” rating in a report on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.33.
Shares of RLI Corp. (RLI) traded up 1.20% during trading on Friday, hitting $57.56. 281,915 shares of the stock traded hands. RLI Corp. has a 52 week low of $52.51 and a 52 week high of $71.46. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 24.70 and a beta of 1.20. The firm’s 50-day moving average price is $55.32 and its 200-day moving average price is $57.42.
RLI Corp. (NYSE:RLI) last announced its earnings results on Wednesday, July 19th. The insurance provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09. The company had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $198.09 million. RLI Corp. had a return on equity of 10.10% and a net margin of 12.38%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, equities research analysts anticipate that RLI Corp. will post $1.97 earnings per share for the current year.
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In other news, Director Robert P. Restrepo, Jr. purchased 2,325 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were acquired at an average price of $56.02 per share, for a total transaction of $130,246.50. Following the completion of the acquisition, the director now directly owns 1,900 shares in the company, valued at $106,438. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Stone sold 947 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $54.76, for a total value of $51,857.72. The disclosure for this sale can be found here. 6.09% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Meadow Creek Investment Management LLC boosted its position in 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 in the last quarter. Glen Harbor Capital Management LLC boosted its position in 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 in the last quarter. Bank of Montreal Can boosted its position in RLI Corp. by 5.8% in the second quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock valued at $138,000 after buying an additional 139 shares in the last quarter. Elkfork Partners LLC boosted its position in RLI Corp. by 1.3% in the first quarter. Elkfork Partners LLC now owns 2,652 shares of the insurance provider’s stock valued at $159,000 after buying an additional 34 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in RLI Corp. during the first quarter valued at about $175,000. Institutional investors and hedge funds own 81.75% 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.
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