Wall Street brokerages predict that RLI Corp. (NYSE:RLI) will report earnings per share (EPS) of $0.53 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for RLI Corp.’s earnings, with estimates ranging from $0.47 to $0.59. RLI Corp. posted earnings per share of $0.37 during the same quarter last year, which would suggest a positive year-over-year growth rate of 43.2%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, October 18th.
According to Zacks, analysts expect that RLI Corp. will report full year earnings of $2.07 per share for the current year, with EPS estimates ranging from $2.00 to $2.13. For the next year, analysts expect that the company will post earnings of $1.94 per share, with EPS estimates ranging from $1.87 to $2.00. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow RLI Corp..
RLI Corp. (NYSE:RLI) last posted its quarterly earnings data on Wednesday, July 19th. The insurance provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The business had revenue of $196.20 million during the quarter, compared to the consensus estimate of $198.09 million. During the same period in the previous year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year.
Several brokerages have recently issued reports on RLI. Zacks Investment Research upgraded shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Monday, July 24th. FBR & Co restated a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st. Finally, BidaskClub cut shares of RLI Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $46.50.
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In other RLI Corp. news, Director Michael E. Angelina purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average price of $54.41 per share, for a total transaction of $54,410.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Stone sold 3,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $57.95, for a total transaction of $173,850.00. The disclosure for this sale can be found here. Corporate insiders own 6.09% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its stake in RLI Corp. by 1.7% during the 1st quarter. Bank of Montreal Can now owns 2,410 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 40 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in RLI Corp. by 0.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,730 shares of the insurance provider’s stock worth $524,000 after purchasing an additional 60 shares during the period. Jennison Associates LLC boosted its stake in RLI Corp. by 0.4% during the 2nd quarter. Jennison Associates LLC now owns 19,597 shares of the insurance provider’s stock worth $1,070,000 after purchasing an additional 77 shares during the period. Public Employees Retirement System of Ohio boosted its stake in RLI Corp. by 0.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 32,402 shares of the insurance provider’s stock worth $1,945,000 after purchasing an additional 89 shares during the period. Finally, Stifel Financial Corp boosted its stake in RLI Corp. by 0.4% during the 2nd quarter. Stifel Financial Corp now owns 20,371 shares of the insurance provider’s stock worth $1,118,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.
Shares of RLI Corp. (NYSE:RLI) opened at 58.00 on Thursday. The firm has a market capitalization of $2.55 billion, a P/E ratio of 25.66 and a beta of 1.24. The stock’s 50 day moving average is $54.55 and its 200 day moving average is $55.90. RLI Corp. has a 1-year low of $50.34 and a 1-year high of $69.39.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Thursday, August 31st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, August 29th. RLI Corp.’s payout ratio is 37.17%.
About RLI Corp.
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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