RLI Corp. (NYSE:RLI) – Analysts at B. Riley issued their Q4 2017 earnings estimates for RLI in a research report issued on Monday. B. Riley analyst R. Binner anticipates that the insurance provider will post earnings per share of $0.47 for the quarter. B. Riley currently has a “Neutral” rating on the stock.
RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.44). The company had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $195.89 million. RLI had a return on equity of 8.53% and a net margin of 9.97%. The company’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share.
Several other research firms have also commented on RLI. Royal Bank Of Canada restated an “underperform” rating and issued a $51.00 price target (up previously from $50.00) on shares of RLI in a report on Friday, October 20th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $55.00 price target on shares of RLI in a report on Wednesday. Zacks Investment Research lowered shares of RLI from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Finally, BidaskClub lowered shares of RLI from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $47.75.
RLI (NYSE:RLI) opened at $58.14 on Wednesday. The firm has a market cap of $2,570.89, a PE ratio of 35.36 and a beta of 1.27. RLI has a 1-year low of $50.34 and a 1-year high of $64.03. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17.
Several institutional investors and hedge funds have recently bought and sold shares of RLI. Janus Henderson Group PLC purchased a new stake in shares of RLI during the second quarter valued at approximately $24,542,000. Royce & Associates LP raised its stake in shares of RLI by 220.7% during the second quarter. Royce & Associates LP now owns 437,080 shares of the insurance provider’s stock valued at $23,873,000 after purchasing an additional 300,800 shares during the period. State Street Corp raised its stake in shares of RLI by 2.4% during the second quarter. State Street Corp now owns 6,297,222 shares of the insurance provider’s stock valued at $343,954,000 after purchasing an additional 145,202 shares during the period. JPMorgan Chase & Co. raised its stake in shares of RLI by 22,871.8% during the third quarter. JPMorgan Chase & Co. now owns 133,466 shares of the insurance provider’s stock valued at $7,723,000 after purchasing an additional 132,885 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of RLI during the third quarter valued at approximately $5,525,000. Institutional investors own 83.70% of the company’s stock.
In other news, Director Michael J. Stone sold 2,000 shares of RLI stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Also, Director Robert P. Restrepo, Jr. acquired 1,026 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $59.30 per share, for a total transaction of $60,841.80. Following the purchase, the director now directly owns 8,026 shares of the company’s stock, valued at $475,941.80. The disclosure for this purchase can be found here. Insiders have sold 4,991 shares of company stock worth $296,903 in the last quarter. Insiders own 6.09% of the company’s stock.
The company also recently disclosed a special dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Thursday, November 30th will be paid a dividend of $1.75 per share. The ex-dividend date is Wednesday, November 29th. This represents a dividend yield of 1.42%. RLI’s dividend payout ratio is currently 46.67%.
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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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