Robert P. Restrepo, Jr. Acquires 1,200 Shares of RLI Corp. (RLI) Stock
RLI Corp. (NYSE:RLI) Director Robert P. Restrepo, Jr. bought 1,200 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $57.58 per share, with a total value of $69,096.00. Following the completion of the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $403,060. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of RLI Corp. (RLI) traded up 2.64% during trading on Tuesday, hitting $58.63. The stock had a trading volume of 37,684 shares. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 25.94 and a beta of 1.20. RLI Corp. has a 52 week low of $52.51 and a 52 week high of $71.46. The firm has a 50 day moving average price of $55.35 and a 200-day moving average price of $57.34.
RLI Corp. (NYSE:RLI) last posted its quarterly earnings data on Wednesday, July 19th. The insurance provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. The company had revenue of $196.20 million during 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%. RLI Corp.’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, equities research analysts forecast that RLI Corp. will post $1.99 EPS for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in RLI. Great West Life Assurance Co. Can raised its stake in RLI Corp. by 6.4% in the first quarter. Great West Life Assurance Co. Can now owns 53,888 shares of the insurance provider’s stock valued at $3,234,000 after buying an additional 3,231 shares in the last quarter. BB&T Corp raised its stake in RLI Corp. by 1.6% in the first quarter. BB&T Corp now owns 6,444 shares of the insurance provider’s stock valued at $387,000 after buying an additional 100 shares in the last quarter. Whittier Trust Co. raised its stake in RLI Corp. by 4.8% in the first quarter. Whittier Trust Co. now owns 31,726 shares of the insurance provider’s stock valued at $1,904,000 after buying an additional 1,444 shares in the last quarter. Russell Investments Group Ltd. raised its stake in RLI Corp. by 100.0% in the first quarter. Russell Investments Group Ltd. now owns 8,600 shares of the insurance provider’s stock valued at $516,000 after buying an additional 4,300 shares in the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake 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. 81.75% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on RLI. Royal Bank Of Canada reissued a “sell” rating and issued a $50.00 target price on shares of RLI Corp. in a research report on Monday, May 22nd. ValuEngine raised RLI Corp. from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods set a $51.00 target price on RLI Corp. and gave the stock a “hold” rating in a research note on Wednesday, May 24th. FBR & Co restated a “hold” rating on shares of RLI Corp. in a report on Thursday, April 20th. Finally, Zacks Investment Research upgraded RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $47.00.
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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