RLI Corp. (RLI) Plans Quarterly Dividend of $0.20
RLI Corp. (NYSE:RLI) declared a quarterly dividend on Thursday, November 10th. Shareholders of record on Wednesday, November 30th will be paid a dividend of 0.20 per share on Friday, December 23rd. This represents a $0.80 annualized dividend and a yield of 1.37%.
RLI Corp. (NYSE:RLI) opened at 58.28 on Friday. The firm has a 50-day moving average of $62.91 and a 200 day moving average of $66.10. The stock has a market cap of $2.56 billion, a PE ratio of 22.16 and a beta of 1.01. RLI Corp. has a 12 month low of $54.27 and a 12 month high of $71.46.
RLI Corp. (NYSE:RLI) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.21. The firm earned $206.40 million during the quarter, compared to analyst estimates of $196.79 million. RLI Corp. had a net margin of 14.37% and a return on equity of 10.42%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Analysts anticipate that RLI Corp. will post $2.03 EPS for the current year.
In related news, Director Michael J. Stone sold 907 shares of the company’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 transaction of $61,122.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert P. Restrepo, Jr. purchased 600 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were bought at an average cost of $70.63 per share, with a total value of $42,378.00. Following the transaction, 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. Corporate insiders own 6.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its position 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 during the period. Pacer Advisors Inc. acquired a new stake in RLI Corp. during the second quarter valued at about $252,000. KCG Holdings Inc. raised its stake in RLI Corp. by 3.3% in the third quarter. KCG Holdings Inc. now owns 3,996 shares of the company’s stock valued at $273,000 after buying an additional 128 shares during the last quarter. Jefferies Group LLC acquired a new stake in RLI Corp. during the second quarter valued at about $346,000. Finally, Profund Advisors LLC raised its stake in RLI Corp. by 18.3% in the third quarter. Profund Advisors LLC now owns 6,400 shares of the company’s stock valued at $438,000 after buying an additional 991 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research lowered shares of RLI Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 25th.
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.
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