RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $65.36, for a total value of $326,800.00. Following the completion of the sale, the director now directly owns 9,000 shares in the company, valued at approximately $588,240. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of RLI Corp. (RLI) opened at $64.42 on Friday. The firm has a market capitalization of $2,838.77, a price-to-earnings ratio of 27.18 and a beta of 1.27. RLI Corp. has a 52-week low of $50.34 and a 52-week high of $65.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.34.
RLI (NYSE:RLI) last released its earnings results on Wednesday, January 24th. The insurance provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $202.74 million during the quarter, compared to the consensus estimate of $197.85 million. RLI had a return on equity of 8.21% and a net margin of 13.17%. research analysts forecast that RLI Corp. will post 2.22 EPS for the current year.
RLI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods set a $51.00 price target on RLI and gave the company a “hold” rating in a research note on Wednesday, October 18th. Zacks Investment Research lowered RLI from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. B. Riley reissued a “neutral” rating on shares of RLI in a research note on Monday, November 6th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $51.00 price objective (up previously from $50.00) on shares of RLI in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. RLI currently has an average rating of “Hold” and a consensus target price of $57.67.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its holdings in RLI by 1.2% in the fourth quarter. Victory Capital Management Inc. now owns 426,060 shares of the insurance provider’s stock valued at $25,845,000 after purchasing an additional 5,123 shares during the last quarter. Front Row Advisors LLC bought a new stake in RLI in the fourth quarter valued at about $658,000. Port Capital LLC bought a new stake in RLI in the fourth quarter valued at about $10,292,000. Personal Capital Advisors Corp increased its holdings in RLI by 7.0% in the fourth quarter. Personal Capital Advisors Corp now owns 52,782 shares of the insurance provider’s stock valued at $3,202,000 after purchasing an additional 3,434 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in RLI by 8.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 276,679 shares of the insurance provider’s stock valued at $16,784,000 after purchasing an additional 20,675 shares during the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.
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RLI 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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