Q1 2019 Earnings Forecast for RLI Corp. (RLI) Issued By William Blair
RLI Corp. (NYSE:RLI) – Research analysts at William Blair boosted their Q1 2019 earnings estimates for RLI in a research note issued to investors on Thursday, October 18th. William Blair analyst A. Klauber now forecasts that the insurance provider will earn $0.55 per share for the quarter, up from their previous forecast of $0.52. William Blair also issued estimates for RLI’s Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.52 EPS, FY2019 earnings at $2.20 EPS, Q1 2020 earnings at $0.54 EPS, Q2 2020 earnings at $0.58 EPS and Q3 2020 earnings at $0.53 EPS.
RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, October 17th. The insurance provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.04). RLI had a net margin of 16.64% and a return on equity of 11.48%. The company had revenue of $217.13 million for the quarter, compared to the consensus estimate of $214.55 million.
Shares of NYSE RLI opened at $70.41 on Friday. RLI has a 12 month low of $56.94 and a 12 month high of $79.98. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.18. The stock has a market cap of $3.28 billion, a PE ratio of 43.73 and a beta of 1.22.
Institutional investors and hedge funds have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. boosted its stake in RLI by 31.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,639 shares of the insurance provider’s stock worth $241,000 after buying an additional 875 shares in the last quarter. BlackRock Inc. boosted its stake in RLI by 9.6% in the second quarter. BlackRock Inc. now owns 5,492,617 shares of the insurance provider’s stock worth $363,557,000 after buying an additional 481,588 shares in the last quarter. New England Asset Management Inc. purchased a new stake in RLI in the second quarter worth approximately $278,000. Principal Financial Group Inc. boosted its stake in RLI by 3.2% in the first quarter. Principal Financial Group Inc. now owns 304,072 shares of the insurance provider’s stock worth $19,275,000 after buying an additional 9,483 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in RLI in the first quarter worth approximately $1,014,000. 85.80% of the stock is owned by institutional investors and hedge funds.
In other news, Director Michael J. Stone sold 1,422 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $77.63, for a total transaction of $110,389.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Stone sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $77.84, for a total value of $389,200.00. The disclosure for this sale can be found here. 6.09% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 20th. Stockholders of record on Friday, August 31st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, August 30th. RLI’s payout ratio is 54.66%.
RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, real estate investment trusts, and mercantile.
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