Insider Selling: RLI Corp. (RLI) Director Sells 2,000 Shares of Stock
RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 2,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $59.68, for a total value of $119,360.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.
RLI Corp. (RLI) traded up $0.23 during trading on Tuesday, reaching $59.49. The company’s stock had a trading volume of 282,100 shares, compared to its average volume of 158,993. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2,610.99, a P/E ratio of 35.92 and a beta of 1.27. RLI Corp. has a 1 year low of $50.34 and a 1 year high of $64.03.
RLI (NYSE:RLI) last posted its earnings results on Wednesday, October 18th. The insurance provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.44). The firm had revenue of $196.20 million during the quarter, compared to the consensus estimate of $195.89 million. RLI had a net margin of 9.97% and a return on equity of 8.53%. RLI’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. equities research analysts forecast that RLI Corp. will post 1.55 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the business. Flinton Capital Management LLC raised its position in shares of RLI by 60.3% during the second quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock worth $109,000 after acquiring an additional 752 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of RLI by 64.0% during the second quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 896 shares during the last quarter. Bank of Montreal Can raised its position in shares of RLI by 5.8% during the second quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock worth $138,000 after acquiring an additional 139 shares during the last quarter. Zions Bancorporation bought a new position in shares of RLI during the third quarter worth about $145,000. Finally, Shelton Capital Management bought a new position in shares of RLI during the second quarter worth about $208,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.
Several analysts recently weighed in on the company. B. Riley restated a “neutral” rating on shares of RLI in a research report on Monday, November 6th. Zacks Investment Research downgraded RLI from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Royal Bank Of Canada restated an “underperform” rating and set a $51.00 price objective (up from $50.00) on shares of RLI in a research report on Friday, October 20th. Keefe, Bruyette & Woods set a $51.00 price objective on RLI and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Finally, BidaskClub downgraded RLI from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Three analysts have 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 price target of $46.75.
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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