RLI Corp. (NYSE:RLI) announced its earnings results on Wednesday, October 18th. The insurance provider reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.44), Bloomberg Earnings reports. The company had revenue of $196.20 million for the quarter, compared to analyst estimates of $195.89 million. RLI Corp. had a return on equity of 8.53% and a net margin of 9.97%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 earnings per share.
Shares of RLI Corp. (NYSE RLI) opened at 58.92 on Friday. The company has a 50-day moving average price of $56.21 and a 200-day moving average price of $55.83. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 26.07 and a beta of 1.24. RLI Corp. has a 12 month low of $50.34 and a 12 month high of $64.66.
A number of brokerages have recently issued reports on RLI. Zacks Investment Research raised RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Monday, July 24th. FBR & Co reissued a “hold” rating on shares of RLI Corp. in a research note on Friday, July 21st. Royal Bank Of Canada reissued an “underperform” rating and issued a $51.00 price objective (up from $50.00) on shares of RLI Corp. in a research note on Friday, October 20th. Keefe, Bruyette & Woods set a $51.00 price objective on RLI Corp. and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, BidaskClub downgraded RLI Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. RLI Corp. has a consensus rating of “Hold” and an average target price of $46.75.
In other RLI Corp. news, Director Michael J. Stone sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $57.95, for a total value of $173,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Stone sold 991 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $57.40, for a total transaction of $56,883.40. The disclosure for this sale can be found here. Corporate insiders own 6.09% of the company’s stock.
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RLI Corp. 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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