RLI Corp. (NYSE:RLI) – Stock analysts at B. Riley cut their FY2018 EPS estimates for shares of RLI in a research note issued to investors on Tuesday. B. Riley analyst R. Binner now anticipates that the insurance provider will earn $2.25 per share for the year, down from their prior estimate of $2.35. B. Riley currently has a “Neutral” rating on the stock. B. Riley also issued estimates for RLI’s FY2019 earnings at $2.25 EPS.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of RLI from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $55.00 price target on shares of RLI in a report on Wednesday, December 6th. Finally, Royal Bank of Canada reiterated 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.67.
Shares of RLI (NYSE RLI) opened at $62.54 on Thursday. The firm has a market cap of $2,758.59, a price-to-earnings ratio of 26.39 and a beta of 1.27. RLI has a fifty-two week low of $50.34 and a fifty-two week high of $65.68. The company has a quick ratio of 0.35, a current ratio of 0.34 and a debt-to-equity ratio of 0.17.
RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $202.74 million for the quarter, compared to analysts’ expectations of $197.85 million. RLI had a net margin of 13.17% and a return on equity of 8.21%.
Several hedge funds have recently made changes to their positions in RLI. Flinton Capital Management LLC boosted its holdings in shares of RLI by 60.3% during the 2nd quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock valued at $109,000 after buying an additional 752 shares in the last quarter. Zions Bancorporation bought a new stake in shares of RLI during the 3rd quarter valued at $145,000. Shelton Capital Management bought a new stake in shares of RLI during the 2nd quarter valued at $208,000. Vident Investment Advisory LLC bought a new stake in shares of RLI during the 4th quarter valued at $214,000. Finally, CIBC Asset Management Inc bought a new stake in shares of RLI during the 4th quarter valued at $225,000. Hedge funds and other institutional investors own 84.02% of the company’s stock.
In other news, Director Michael J. Stone sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $60.33, for a total transaction of $120,660.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $326,800.00. Following the sale, the director now owns 9,000 shares in the company, valued at approximately $588,240. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,041 shares of company stock worth $692,888. Company insiders own 6.09% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Wednesday, February 28th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, February 27th. RLI’s dividend payout ratio (DPR) is currently 35.44%.
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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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