RLI Corp. (NYSE:RLI) – B. Riley lifted their FY2019 EPS estimates for RLI in a research report issued on Monday, February 11th. B. Riley analyst R. Binner now anticipates that the insurance provider will earn $2.30 per share for the year, up from their previous estimate of $2.20. B. Riley also issued estimates for RLI’s FY2020 earnings at $2.30 EPS.
RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, January 23rd. The insurance provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.24. The company had revenue of $220.96 million for the quarter, compared to analyst estimates of $217.97 million. RLI had a return on equity of 10.96% and a net margin of 7.84%. During the same quarter in the previous year, the company posted $1.21 earnings per share.
RLI has been the topic of a number of other research reports. Compass Point assumed coverage on RLI in a research note on Tuesday, January 15th. They set a “sell” rating and a $48.00 price objective on the stock. TheStreet lowered RLI from a “b” rating to a “c” rating in a research note on Wednesday, January 23rd. Finally, Zacks Investment Research lowered RLI from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $64.00.
NYSE RLI opened at $68.78 on Tuesday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 33.55 and a beta of 0.92. The company has a current ratio of 0.36, a quick ratio of 0.37 and a debt-to-equity ratio of 0.18. RLI has a fifty-two week low of $59.90 and a fifty-two week high of $79.98.
Several hedge funds have recently bought and sold shares of the stock. Intercontinental Wealth Advisors LLC acquired a new position in RLI in the fourth quarter valued at approximately $47,000. BlueMountain Capital Management LLC acquired a new position in RLI in the third quarter valued at approximately $121,000. FMR LLC acquired a new position in RLI in the third quarter valued at approximately $163,000. Ffcm LLC boosted its stake in RLI by 1,966.4% in the fourth quarter. Ffcm LLC now owns 2,397 shares of the insurance provider’s stock valued at $165,000 after acquiring an additional 2,281 shares during the period. Finally, LS Investment Advisors LLC boosted its stake in RLI by 124.1% in the fourth quarter. LS Investment Advisors LLC now owns 2,501 shares of the insurance provider’s stock valued at $173,000 after acquiring an additional 1,385 shares during the period. Hedge funds and other institutional investors own 90.17% of the company’s stock.
In related news, Director Michael J. Stone sold 1,540 shares of the business’s stock in a transaction on Thursday, January 3rd. The stock was sold at an average price of $67.07, for a total value of $103,287.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael J. Stone sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $65.43, for a total value of $261,720.00. The disclosure for this sale can be found here. 5.54% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Thursday, February 28th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.88 dividend on an annualized basis and a yield of 1.28%. RLI’s dividend payout ratio is currently 42.93%.
RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, real estate investment trusts, and mercantile.
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