RLI Corp. (RLI) Set to Announce Quarterly Earnings on Wednesday
RLI Corp. (NYSE:RLI) will announce its earnings results after the market closes on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.58 per share for the quarter.
RLI Corp. (NYSE:RLI) last issued its earnings results on Tuesday, July 19th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. RLI Corp. had a net margin of 16.16% and a return on equity of 12.24%. The business had revenue of $196 million for the quarter, compared to analysts’ expectations of $208.20 million. During the same quarter in the previous year, the firm posted $0.77 EPS. On average, analysts expect RLI Corp. to post $2.37 EPS for the current fiscal year and $2.33 EPS for the next fiscal year.
RLI Corp. (NYSE:RLI) opened at 68.12 on Tuesday. The stock has a 50 day moving average of $68.63 and a 200 day moving average of $67.05. The company has a market cap of $2.98 billion, a PE ratio of 23.17 and a beta of 0.91. RLI Corp. has a 12-month low of $56.67 and a 12-month high of $71.46.
The company also recently declared a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Monday, August 29th. RLI Corp.’s payout ratio is 27.30%.
In related news, Director Michael J. Stone sold 907 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $67.39, for a total value of $61,122.73. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert P. Restrepo, Jr. bought 600 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was bought at an average price of $70.63 per share, for a total transaction of $42,378.00. Following the acquisition, the director now directly owns 900 shares of the company’s stock, valued at approximately $63,567. The disclosure for this purchase can be found here. Insiders own 6.30% of the company’s stock.
Large investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its stake in shares of RLI Corp. by 1.1% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,694 shares of the company’s stock valued at $117,000 after buying an additional 19 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of RLI Corp. during the second quarter valued at about $252,000. Jefferies Group LLC bought a new stake in shares of RLI Corp. during the second quarter valued at about $346,000. Nomura Holdings Inc. bought a new stake in shares of RLI Corp. during the second quarter valued at about $457,000. Finally, AHL Partners LLP boosted its stake in shares of RLI Corp. by 17.5% in the second quarter. AHL Partners LLP now owns 7,395 shares of the company’s stock valued at $508,000 after buying an additional 1,099 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of RLI Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Five research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $59.75.
RLI Corp. Company Profile
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.
Receive News & Stock Ratings for RLI Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLI Corp. and related stocks with our FREE daily email newsletter.