Robert P. Restrepo, Jr. Buys 600 Shares of RLI Corp. (RLI) Stock
RLI Corp. (NYSE:RLI) Director Robert P. Restrepo, Jr. bought 600 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was acquired at an average cost of $62.89 per share, with a total value of $37,734.00. Following the completion of the acquisition, the director now owns 1,800 shares of the company’s stock, valued at approximately $113,202. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of RLI Corp. (NYSE:RLI) traded up 0.30% during mid-day trading on Monday, reaching $63.22. The company had a trading volume of 18,355 shares. The company has a market capitalization of $2.78 billion, a PE ratio of 24.04 and a beta of 1.01. The stock’s 50-day moving average price is $61.79 and its 200 day moving average price is $66.09. RLI Corp. has a 1-year low of $54.27 and a 1-year high of $71.46.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.21. RLI Corp. had a net margin of 14.37% and a return on equity of 10.42%. The company earned $206.40 million during the quarter, compared to analyst estimates of $196.79 million. During the same period in the previous year, the firm posted $0.70 earnings per share. The company’s revenue was up 2.7% compared to the same quarter last year. Equities analysts expect that RLI Corp. will post $1.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Wednesday, November 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, November 28th. RLI Corp.’s payout ratio is 30.53%.
Separately, Zacks Investment Research lowered shares of RLI Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its position 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 during the last quarter. Creative Planning increased its position 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 during the last quarter. Whittier Trust Co. increased its position 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 during the last quarter. Personal Capital Advisors Corp increased its position 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 during the last quarter. Finally, First Trust Advisors LP increased its position 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 during the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.
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.
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.