RLI Corp. (NYSE:RLI) – Research analysts at William Blair upped their Q1 2018 earnings per share estimates for RLI in a research note issued on Thursday. William Blair analyst A. Klauber now anticipates that the insurance provider will earn $0.50 per share for the quarter, up from their prior estimate of $0.42. William Blair also issued estimates for RLI’s Q4 2018 earnings at $0.52 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.50 EPS, Q3 2019 earnings at $0.48 EPS and Q4 2019 earnings at $0.45 EPS.
RLI has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of RLI from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Monday, January 8th. Keefe, Bruyette & Woods set a $51.00 price target on shares of RLI and gave the company a “hold” rating in a report on Wednesday, October 18th. B. Riley restated a “neutral” rating on shares of RLI in a report on Monday, November 6th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $51.00 price target (up previously from $50.00) on shares of RLI in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $57.67.
Institutional investors have recently added to or reduced their stakes in the company. Port Capital LLC bought a new position in RLI in the 4th quarter worth $10,292,000. Personal Capital Advisors Corp raised its holdings in RLI by 7.0% in the 4th quarter. Personal Capital Advisors Corp now owns 52,782 shares of the insurance provider’s stock worth $3,202,000 after acquiring an additional 3,434 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in RLI by 8.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 276,679 shares of the insurance provider’s stock worth $16,784,000 after acquiring an additional 20,675 shares during the period. Louisiana State Employees Retirement System raised its holdings in RLI by 6.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the insurance provider’s stock worth $1,013,000 after acquiring an additional 1,000 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in RLI by 44.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 49,510 shares of the insurance provider’s stock worth $3,003,000 after acquiring an additional 15,200 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.
In other news, Director Michael J. Stone sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $60.33, for a total transaction of $120,660.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael J. Stone sold 1,141 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $59.40, for a total transaction of $67,775.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,141 shares of company stock worth $307,795 in the last 90 days. 6.09% of the stock is owned by insiders.
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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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