Shares of RLI Corp. (NYSE:RLI) reached a new 52-week high and low during mid-day trading on Tuesday . The stock traded as low as $67.98 and last traded at $67.80, with a volume of 1829 shares changing hands. The stock had previously closed at $67.65.
RLI has been the topic of several recent research reports. Zacks Investment Research raised RLI from a “sell” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Tuesday, April 17th. ValuEngine raised RLI from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.33.
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The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.99 billion, a PE ratio of 38.42 and a beta of 1.23.
RLI (NYSE:RLI) last released its earnings results on Wednesday, April 18th. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. The business had revenue of $204.26 million for the quarter, compared to the consensus estimate of $203.31 million. RLI had a return on equity of 9.10% and a net margin of 12.39%. equities research analysts predict that RLI Corp. will post 2.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Thursday, May 31st will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from RLI’s previous quarterly dividend of $0.21. RLI’s payout ratio is currently 52.17%.
In related news, Director Michael J. Stone sold 1,013 shares of RLI stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $61.52, for a total value of $62,319.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael J. Stone sold 15,000 shares of RLI stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $63.91, for a total value of $958,650.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,588 shares of company stock worth $1,184,695. 6.09% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. increased its position in shares of RLI by 62.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,764 shares of the insurance provider’s stock valued at $175,000 after acquiring an additional 1,058 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in RLI during the first quarter worth about $201,000. Vident Investment Advisory LLC bought a new position in RLI during the fourth quarter worth about $214,000. CIBC Asset Management Inc bought a new position in RLI during the fourth quarter worth about $225,000. Finally, Sawtooth Solutions LLC bought a new position in RLI during the first quarter worth about $227,000. 85.41% of the stock is currently owned by institutional investors and hedge funds.
RLI Company Profile
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.