William Blair Weighs in on RLI Corp.’s FY2017 Earnings (RLI)
RLI Corp. (NYSE:RLI) – William Blair upped their FY2017 EPS estimates for RLI Corp. in a report released on Thursday. William Blair analyst A. Klauber now forecasts that the insurance provider will earn $2.13 per share for the year, up from their prior forecast of $2.11. William Blair also issued estimates for RLI Corp.’s Q4 2017 earnings at $0.49 EPS, Q2 2018 earnings at $0.54 EPS and FY2018 earnings at $1.87 EPS.
Other analysts have also issued research reports about the company. FBR & Co reiterated a “hold” rating on shares of RLI Corp. in a report on Friday. 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. ValuEngine upgraded RLI Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Royal Bank Of Canada reiterated a “sell” rating and set a $50.00 target price on shares of RLI Corp. in a report on Monday, May 22nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $41.33.
RLI Corp. (NYSE:RLI) opened at 57.56 on Monday. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 25.47 and a beta of 1.20. The firm has a 50-day moving average price of $55.32 and a 200 day moving average price of $57.42. RLI Corp. has a 12 month low of $52.51 and a 12 month high of $71.46.
RLI Corp. (NYSE:RLI) last issued its earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.09. RLI Corp. had a return on equity of 10.10% and a net margin of 12.38%. The company had revenue of $196.20 million for the quarter, compared to analyst estimates of $198.09 million. During the same period in the prior year, the firm posted $0.61 EPS. The business’s revenue was up .1% compared to the same quarter last year.
In other RLI Corp. news, Director Michael J. Stone sold 947 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $54.76, for a total transaction of $51,857.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert P. Restrepo, Jr. purchased 1,675 shares of the stock in a transaction on Monday, May 8th. The shares were acquired at an average cost of $56.64 per share, for a total transaction of $94,872.00. Following the transaction, the director now owns 5,800 shares of the company’s stock, valued at $328,512. The disclosure for this purchase can be found here. 6.09% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in RLI. Whittier Trust Co. increased its position in shares of RLI Corp. by 2.5% in the second quarter. Whittier Trust Co. now owns 32,532 shares of the insurance provider’s stock worth $1,777,000 after buying an additional 806 shares during the period. Van Berkom & Associates Inc. increased its position in shares of RLI Corp. by 23.5% in the second quarter. Van Berkom & Associates Inc. now owns 834,074 shares of the insurance provider’s stock worth $45,557,000 after buying an additional 158,744 shares during the period. Aperio Group LLC increased its position in shares of RLI Corp. by 21.9% in the second quarter. Aperio Group LLC now owns 13,657 shares of the insurance provider’s stock worth $746,000 after buying an additional 2,453 shares during the period. State of Alaska Department of Revenue increased its position in shares of RLI Corp. by 78.1% in the second quarter. State of Alaska Department of Revenue now owns 7,550 shares of the insurance provider’s stock worth $412,000 after buying an additional 3,310 shares during the period. Finally, NN Investment Partners Holdings N.V. increased its position in shares of RLI Corp. by 15.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 11,110 shares of the insurance provider’s stock worth $607,000 after buying an additional 1,515 shares during the period. 81.75% of the stock is currently owned by hedge funds and other institutional investors.
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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