RLI Corp. (RLI) Director Michael J. Stone Sells 907 Shares of Stock
RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 907 shares of RLI Corp. stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $67.39, for a total transaction of $61,122.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
RLI Corp. (NYSE:RLI) opened at 67.59 on Wednesday. The company has a market cap of $2.96 billion, a PE ratio of 22.99 and a beta of 0.91. The company has a 50-day moving average of $68.93 and a 200-day moving average of $66.95. RLI Corp. has a 52 week low of $53.82 and a 52 week high of $71.46.
RLI Corp. (NYSE:RLI) last released its quarterly earnings results on Tuesday, July 19th. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. RLI Corp. had a return on equity of 12.24% and a net margin of 16.16%. The company had revenue of $196 million for the quarter, compared to analyst estimates of $208.20 million. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, equities analysts expect that RLI Corp. will post $2.31 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Wednesday, August 31st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.80 annualized dividend and a yield of 1.18%. RLI Corp.’s payout ratio is presently 27.30%.
A number of hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC raised its stake in RLI Corp. by 1.4% in the first quarter. LPL Financial LLC now owns 26,067 shares of the company’s stock valued at $1,722,000 after buying an additional 349 shares during the last quarter. Geode Capital Management LLC raised its stake in RLI Corp. by 8.1% in the first quarter. Geode Capital Management LLC now owns 257,396 shares of the company’s stock worth $17,209,000 after buying an additional 19,191 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in RLI Corp. by 80.7% in the first quarter. Loomis Sayles & Co. L P now owns 2,702 shares of the company’s stock worth $181,000 after buying an additional 1,207 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in RLI Corp. by 21.0% in the first quarter. Goldman Sachs Group Inc. now owns 819,554 shares of the company’s stock worth $54,796,000 after buying an additional 142,244 shares during the last quarter. Finally, UBS Group AG raised its stake in RLI Corp. by 37.2% in the first quarter. UBS Group AG now owns 16,487 shares of the company’s stock worth $1,102,000 after buying an additional 4,474 shares during the last quarter. Institutional investors own 79.93% of the company’s stock.
Separately, Zacks Investment Research cut shares of RLI Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Five investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $59.75.
About RLI Corp.
RLI Corp. is a specialty insurance company. The Company operates through three segments: Casualty, Property and Surety. The Casualty segment consists of general liability, personal umbrella, transportation, executive products and commercial umbrella coverages, as well as package business and other specialty coverages.
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