Michael E. Angelina Acquires 500 Shares of RLI Corp. (RLI) Stock
RLI Corp. (NYSE:RLI) Director Michael E. Angelina bought 500 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were acquired at an average price of $60.85 per share, for a total transaction of $30,425.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of RLI Corp. (NYSE:RLI) opened at 63.03 on Monday. RLI Corp. has a one year low of $54.27 and a one year high of $71.46. The stock’s 50 day moving average is $61.79 and its 200-day moving average is $66.09. The company has a market cap of $2.77 billion, a P/E ratio of 23.97 and a beta of 1.01.
RLI Corp. (NYSE:RLI) last released its quarterly earnings results 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. RLI Corp. had a net margin of 14.37% and a return on equity of 10.42%. The firm had revenue of $206.40 million for the quarter, compared to the consensus estimate of $196.79 million. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that RLI Corp. will post $1.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Wednesday, November 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Monday, November 28th. RLI Corp.’s payout ratio is currently 30.53%.
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.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can raised its stake in shares of RLI Corp. by 4.4% in the third quarter. Great West Life Assurance Co. Can now owns 51,438 shares of the company’s stock valued at $3,514,000 after buying an additional 2,156 shares in the last quarter. Creative Planning raised its stake in shares of RLI Corp. by 160.1% in the second quarter. Creative Planning now owns 17,502 shares of the company’s stock valued at $1,204,000 after buying an additional 10,772 shares in the last quarter. Whittier Trust Co. raised its stake in shares of RLI Corp. by 1.2% in the second quarter. Whittier Trust Co. now owns 30,053 shares of the company’s stock valued at $2,067,000 after buying an additional 364 shares in the last quarter. Personal Capital Advisors Corp raised its stake in shares of RLI Corp. by 11.2% in the second quarter. Personal Capital Advisors Corp now owns 190,555 shares of the company’s stock valued at $13,106,000 after buying an additional 19,177 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of RLI Corp. by 11.7% in the second quarter. First Trust Advisors LP now owns 28,835 shares of the company’s stock valued at $1,983,000 after buying an additional 3,022 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors.
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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