RLI Corp. to Post FY2017 Earnings of $1.55 Per Share, FBR & Co Forecasts (RLI)
RLI Corp. (NYSE:RLI) – FBR & Co upped their FY2017 earnings per share (EPS) estimates for shares of RLI Corp. in a research note issued on Tuesday. FBR & Co analyst R. Binner now expects that the insurance provider will post earnings per share of $1.55 for the year, up from their previous forecast of $1.50. FBR & Co currently has a “Hold” rating on the stock.
RLI Corp. (NYSE:RLI) last announced its earnings results on Wednesday, October 18th. The insurance provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.44). The business had revenue of $196.20 million during the quarter, compared to analyst estimates of $195.89 million. RLI Corp. had a net margin of 9.97% and a return on equity of 8.53%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 earnings per share.
Several other equities research analysts have also issued reports on RLI. Zacks Investment Research raised RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Monday, July 24th. BidaskClub lowered RLI Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Royal Bank Of Canada reissued an “underperform” rating and set a $51.00 price target (up from $50.00) on shares of RLI Corp. in a research report on Friday, October 20th. Finally, Keefe, Bruyette & Woods set a $51.00 price target on RLI Corp. and gave the company a “hold” rating in a research report on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $46.75.
RLI Corp. (NYSE RLI) opened at 57.98 on Thursday. The firm has a market capitalization of $2.55 billion, a PE ratio of 25.65 and a beta of 1.24. RLI Corp. has a one year low of $50.34 and a one year high of $64.66. The stock has a 50 day moving average of $56.21 and a 200-day moving average of $55.83.
Several hedge funds have recently bought and sold shares of the stock. Aperio Group LLC raised its position in shares of RLI Corp. by 8.9% during the 3rd quarter. Aperio Group LLC now owns 14,867 shares of the insurance provider’s stock valued at $853,000 after acquiring an additional 1,210 shares in the last quarter. Personal Capital Advisors Corp raised its position in shares of RLI Corp. by 4.4% during the 3rd quarter. Personal Capital Advisors Corp now owns 49,348 shares of the insurance provider’s stock valued at $2,831,000 after acquiring an additional 2,079 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of RLI Corp. during the 3rd quarter valued at approximately $5,525,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of RLI Corp. during the 2nd quarter valued at approximately $388,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of RLI Corp. by 0.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 32,638 shares of the insurance provider’s stock valued at $1,783,000 after acquiring an additional 236 shares in the last quarter. 82.94% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Michael J. Stone sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $57.95, for a total transaction of $173,850.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael E. Angelina purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average cost of $54.41 per share, for a total transaction of $54,410.00. The disclosure for this purchase can be found here. Corporate 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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