RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 1,141 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $59.40, for a total transaction of $67,775.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of RLI Corp. (NYSE:RLI) traded down $0.27 during midday trading on Thursday, hitting $59.20. 213,000 shares of the stock traded hands, compared to its average volume of 240,200. The company has a market cap of $2,620.24, a price-to-earnings ratio of 32.89 and a beta of 1.27. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. RLI Corp. has a one year low of $50.34 and a one year high of $62.24.
RLI (NYSE:RLI) last issued its earnings results on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.44). The business 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%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. equities research analysts expect that RLI Corp. will post 1.55 EPS for the current year.
Several brokerages have recently issued reports on RLI. Zacks Investment Research raised shares of RLI from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Tuesday, September 26th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $51.00 target price (up previously from $50.00) on shares of RLI in a research note on Friday, October 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $55.00 target price on shares of RLI in a research note on Wednesday, December 6th. Finally, B. Riley reaffirmed a “neutral” rating on shares of RLI in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.00.
Large investors have recently made changes to their positions in the stock. Flinton Capital Management LLC raised its position in shares of RLI by 60.3% in the 2nd quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock valued at $109,000 after acquiring an additional 752 shares during the period. Riverhead Capital Management LLC raised its position in shares of RLI by 64.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock valued at $125,000 after acquiring an additional 896 shares during the period. Zions Bancorporation acquired a new stake in shares of RLI in the 3rd quarter valued at approximately $145,000. Bank of Montreal Can raised its position in shares of RLI by 5.8% in the 2nd quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock valued at $138,000 after acquiring an additional 139 shares during the period. Finally, Shelton Capital Management acquired a new stake in shares of RLI in the 2nd quarter valued at approximately $208,000. Institutional investors and hedge funds own 83.58% of the company’s stock.
RLI 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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