William Blair Weighs in on RLI Corp.’s FY2018 Earnings (RLI)
RLI Corp. (NYSE:RLI) – Equities researchers at William Blair issued their FY2018 EPS estimates for shares of RLI Corp. in a report released on Wednesday. William Blair analyst A. Klauber forecasts that the brokerage will post earnings per share of $1.86 for the year.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.58 by $0.21. The company had revenue of $206.40 million for the quarter, compared to analyst estimates of $196.79 million. RLI Corp. had a return on equity of 10.42% and a net margin of 14.37%. RLI Corp.’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share.
Separately, Zacks Investment Research lowered shares of RLI Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 25th.
Shares of RLI Corp. (NYSE:RLI) traded up 0.57% during midday trading on Monday, reaching $63.16. The company’s stock had a trading volume of 156,063 shares. The company has a 50 day moving average of $61.67 and a 200-day moving average of $66.10. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 24.02 and a beta of 1.01. RLI Corp. has a 52 week low of $54.27 and a 52 week high of $71.46.
Several hedge funds and other institutional investors have recently modified their holdings of RLI. BlackRock Fund Advisors raised its position in shares of RLI Corp. by 7.8% in the third quarter. BlackRock Fund Advisors now owns 2,616,804 shares of the company’s stock worth $178,885,000 after buying an additional 189,675 shares during the period. PNC Financial Services Group Inc. raised its position in shares of RLI Corp. by 19.8% in the second quarter. PNC Financial Services Group Inc. now owns 862,817 shares of the company’s stock worth $59,345,000 after buying an additional 142,890 shares during the period. Vanguard Group Inc. raised its position in shares of RLI Corp. by 4.2% in the second quarter. Vanguard Group Inc. now owns 3,550,335 shares of the company’s stock worth $244,192,000 after buying an additional 142,262 shares during the period. Victory Capital Management Inc. raised its position in shares of RLI Corp. by 6.9% in the second quarter. Victory Capital Management Inc. now owns 696,575 shares of the company’s stock worth $47,910,000 after buying an additional 44,712 shares during the period. Finally, BlackRock Inc. raised its position in shares of RLI Corp. by 1,852.3% in the second quarter. BlackRock Inc. now owns 35,845 shares of the company’s stock worth $2,466,000 after buying an additional 34,009 shares during the period. Institutional investors and hedge funds own 78.99% of the company’s stock.
In other news, Director Michael J. Stone sold 907 shares of the business’s stock in a transaction dated 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 SEC, which can be accessed through the SEC website. Also, Director Robert P. Restrepo, Jr. purchased 600 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were purchased at an average price of $70.63 per share, for a total transaction of $42,378.00. Following the completion of the purchase, the director now owns 900 shares of the company’s stock, valued at $63,567. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Wednesday, November 30th will be paid a $0.20 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.27%. RLI Corp.’s dividend payout ratio is presently 30.53%.
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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