RLI Corp. (NYSE:RLI) has earned a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $53.00.
Separately, Zacks Investment Research raised RLI from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Monday, January 8th.
In other RLI news, VP Aaron Paul Diefenthaler sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $64.77, for a total transaction of $58,293.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael J. Stone sold 1,013 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $61.52, for a total value of $62,319.76. The disclosure for this sale can be found here. Insiders have sold a total of 6,913 shares of company stock worth $447,413 in the last ninety days. Insiders own 6.09% of the company’s stock.
Large investors have recently bought and sold shares of the business. Zions Bancorporation acquired a new position in shares of RLI during the 3rd quarter worth approximately $145,000. Vident Investment Advisory LLC acquired a new position in shares of RLI during the 4th quarter worth approximately $214,000. CIBC Asset Management Inc acquired a new position in shares of RLI during the 4th quarter worth approximately $225,000. Xact Kapitalforvaltning AB acquired a new position in shares of RLI during the 4th quarter worth approximately $232,000. Finally, Centiva Capital LP acquired a new position in shares of RLI during the 4th quarter worth approximately $244,000. 87.03% of the stock is currently owned by hedge funds and other institutional investors.
RLI stock traded down $1.05 during midday trading on Friday, reaching $62.39. The stock had a trading volume of 112,454 shares, compared to its average volume of 151,834. RLI has a 1-year low of $50.34 and a 1-year high of $65.68. The firm has a market cap of $2,760.01, a PE ratio of 38.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35.
RLI (NYSE:RLI) last announced its earnings results on Wednesday, January 24th. The insurance provider reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.03. RLI had a return on equity of 8.21% and a net margin of 13.17%. The business had revenue of $202.74 million for the quarter, compared to analyst estimates of $197.85 million. equities research analysts predict that RLI will post 2.17 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, February 27th. RLI’s dividend payout ratio (DPR) is 52.17%.
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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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