RLI Corp. (RLI) to Post FY2017 Earnings of $1.56 Per Share, William Blair Forecasts
RLI Corp. (NYSE:RLI) – Equities research analysts at William Blair reduced their FY2017 earnings per share estimates for RLI Corp. in a report issued on Thursday. William Blair analyst A. Klauber now expects that the insurance provider will post earnings per share of $1.56 for the year, down from their previous estimate of $1.58. William Blair also issued estimates for RLI Corp.’s Q1 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.45 EPS, Q4 2018 earnings at $0.45 EPS and FY2018 earnings at $1.77 EPS.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday, July 24th. FBR & Co restated a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st. Keefe, Bruyette & Woods set a $51.00 price objective on RLI Corp. and gave the company a “hold” rating in a report on Wednesday, October 18th. BidaskClub downgraded RLI Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Royal Bank Of Canada lifted their price objective on RLI Corp. from $50.00 to $51.00 and gave the company an “underperform” rating in a report on Friday. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $46.75.
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Shares of RLI Corp. (NYSE:RLI) opened at 58.03 on Monday. RLI Corp. has a 52-week low of $50.34 and a 52-week high of $64.66. The stock has a 50 day moving average of $55.86 and a 200-day moving average of $55.85. The stock has a market capitalization of $2.56 billion, a P/E ratio of 25.68 and a beta of 1.24.
RLI Corp. (NYSE:RLI) last released its earnings results on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.44). The business had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $195.89 million. RLI Corp. had a return on equity of 8.53% and a net margin of 9.97%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share.
A number of institutional investors have recently made changes to their positions in RLI. BlackRock Inc. raised its holdings in RLI Corp. by 11,386.7% in the first quarter. BlackRock Inc. now owns 4,695,862 shares of the insurance provider’s stock worth $281,845,000 after purchasing an additional 4,654,981 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of RLI Corp. during the second quarter worth about $24,542,000. Royce & Associates LP grew its stake in shares of RLI Corp. by 220.7% during the second quarter. Royce & Associates LP now owns 437,080 shares of the insurance provider’s stock worth $23,873,000 after acquiring an additional 300,800 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of RLI Corp. by 7.3% during the first quarter. Vanguard Group Inc. now owns 4,163,098 shares of the insurance provider’s stock worth $249,869,000 after acquiring an additional 284,228 shares during the last quarter. Finally, Van Berkom & Associates Inc. grew its stake in shares of RLI Corp. by 23.5% during the second quarter. Van Berkom & Associates Inc. now owns 834,074 shares of the insurance provider’s stock worth $45,557,000 after acquiring an additional 158,744 shares during the last quarter. Institutional investors and hedge funds own 82.92% of the company’s stock.
In other news, Director Michael E. Angelina bought 1,000 shares of RLI Corp. stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average cost of $54.41 per share, for a total transaction of $54,410.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Stone sold 3,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $57.95, for a total transaction of $173,850.00. The disclosure for this sale can be found here. Insiders own 6.09% of the company’s stock.
About RLI Corp.
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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