RLI Corp. (RLI) Expected to Post Quarterly Sales of $217.97 Million
Brokerages expect RLI Corp. (NYSE:RLI) to announce $217.97 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for RLI’s earnings, with estimates ranging from $216.90 million to $219.03 million. RLI reported sales of $202.74 million in the same quarter last year, which indicates a positive year over year growth rate of 7.5%. The business is scheduled to issue its next earnings results on Wednesday, January 23rd.
On average, analysts expect that RLI will report full-year sales of $849.21 million for the current fiscal year, with estimates ranging from $846.90 million to $851.52 million. For the next year, analysts expect that the business will post sales of $896.99 million, with estimates ranging from $888.80 million to $905.18 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow RLI.
RLI (NYSE:RLI) last issued its 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). The firm had revenue of $217.13 million during the quarter, compared to analyst estimates of $214.55 million. RLI had a net margin of 16.64% and a return on equity of 11.39%.
NYSE:RLI traded down $0.72 during mid-day trading on Friday, hitting $67.61. The stock had a trading volume of 133,200 shares, compared to its average volume of 110,537. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 41.92 and a beta of 1.15. RLI has a twelve month low of $58.50 and a twelve month high of $79.98. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.17.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 27th. Shareholders of record on Friday, November 30th were paid a $0.22 dividend. The ex-dividend date was Thursday, November 29th. This represents a $0.88 annualized dividend and a yield of 1.30%. RLI’s dividend payout ratio is currently 54.66%.
In other RLI news, Director Michael J. Stone sold 1,540 shares of the stock in a transaction that occurred on Thursday, January 3rd. The shares were sold at an average price of $67.07, for a total value of $103,287.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 5.54% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue grew its position in shares of RLI by 1.9% during the fourth quarter. State of Alaska Department of Revenue now owns 13,090 shares of the insurance provider’s stock worth $903,000 after acquiring an additional 250 shares during the last quarter. Vanguard Group Inc grew its position in shares of RLI by 2.0% during the third quarter. Vanguard Group Inc now owns 4,597,534 shares of the insurance provider’s stock worth $361,274,000 after acquiring an additional 90,178 shares during the last quarter. Vanguard Group Inc. grew its position in shares of RLI by 2.0% during the third quarter. Vanguard Group Inc. now owns 4,597,534 shares of the insurance provider’s stock worth $361,274,000 after acquiring an additional 90,178 shares during the last quarter. Morgan Stanley grew its position in shares of RLI by 5.4% during the third quarter. Morgan Stanley now owns 229,755 shares of the insurance provider’s stock worth $18,055,000 after acquiring an additional 11,859 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of RLI by 6.5% during the third quarter. Legal & General Group Plc now owns 102,533 shares of the insurance provider’s stock worth $8,040,000 after acquiring an additional 6,273 shares during the last quarter. Institutional investors own 87.89% of the company’s stock.
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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