RLI Corp. (RLI) Director Purchases $60,841.80 in Stock
RLI Corp. (NYSE:RLI) Director Robert P. Restrepo, Jr. bought 1,026 shares of the stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $59.30 per share, with a total value of $60,841.80. Following the acquisition, the director now owns 8,026 shares in the company, valued at approximately $475,941.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
RLI Corp. (NYSE RLI) traded up $0.13 during mid-day trading on Tuesday, reaching $59.46. 241,300 shares of the company traded hands, compared to its average volume of 158,149. RLI Corp. has a 1 year low of $50.34 and a 1 year high of $64.66. The stock has a market cap of $2,620.00, a P/E ratio of 35.96 and a beta of 1.29. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35.
RLI Corp. (NYSE:RLI) last released its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.44). RLI Corp. had a net margin of 9.97% and a return on equity of 8.53%. The business had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $195.89 million. During the same quarter last year, the company earned $0.37 EPS. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. research analysts anticipate that RLI Corp. will post 1.55 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Thursday, November 30th will be given a dividend of $1.75 per share. The ex-dividend date is Wednesday, November 29th. This represents a yield of 1.42%. RLI Corp.’s payout ratio is currently 46.67%.
Several brokerages have recently issued reports on RLI. FBR & Co restated a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st. Zacks Investment Research upgraded shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Monday, July 24th. B. Riley reiterated a “neutral” rating on shares of RLI Corp. in a research report on Monday, November 6th. Royal Bank Of Canada reiterated an “underperform” rating and issued a $51.00 price target (up previously from $50.00) on shares of RLI Corp. in a research report on Friday, October 20th. Finally, BidaskClub downgraded shares of RLI Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. RLI Corp. presently has an average rating of “Hold” and an average target price of $46.75.
Institutional investors have recently made changes to their positions in the business. Flinton Capital Management LLC raised its position in RLI Corp. by 60.3% during the 2nd quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock worth $109,000 after buying an additional 752 shares during the last quarter. Riverhead Capital Management LLC raised its position in RLI Corp. by 64.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock worth $125,000 after buying an additional 896 shares during the last quarter. Bank of Montreal Can raised its position in RLI Corp. by 5.8% during the 2nd quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock worth $138,000 after buying an additional 139 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in RLI Corp. during the 1st quarter worth $203,000. Finally, Shelton Capital Management purchased a new position in RLI Corp. during the 2nd quarter worth $208,000. Institutional investors own 83.49% of the company’s stock.
About RLI Corp.
RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.
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