RLI Corp. (NYSE:RLI) – Research analysts at FBR & Co decreased their Q3 2017 earnings per share estimates for RLI Corp. in a research report issued on Tuesday. FBR & Co analyst R. Binner now anticipates that the insurance provider will earn ($0.02) per share for the quarter, down from their prior estimate of $0.47. FBR & Co currently has a “Hold” rating on the stock. FBR & Co also issued estimates for RLI Corp.’s FY2017 earnings at $1.50 EPS.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of RLI Corp. from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub cut 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 four have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $46.50.
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RLI Corp. (NYSE RLI) opened at 57.27 on Thursday. RLI Corp. has a 52 week low of $50.34 and a 52 week high of $69.21. The firm has a market cap of $2.52 billion, a PE ratio of 25.34 and a beta of 1.24. The stock has a 50 day moving average of $55.17 and a 200-day moving average of $55.88.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings data on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The company had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $198.09 million. During the same quarter in the prior year, the company posted $0.61 EPS. The business’s revenue was up .1% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its stake in RLI Corp. by 28.1% in the first quarter. Parametric Portfolio Associates LLC now owns 86,155 shares of the insurance provider’s stock valued at $5,171,000 after purchasing an additional 18,878 shares in the last quarter. American Century Companies Inc. raised its stake in RLI Corp. by 17.4% in the second quarter. American Century Companies Inc. now owns 462,514 shares of the insurance provider’s stock valued at $25,263,000 after purchasing an additional 68,651 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in RLI Corp. by 71.8% in the second quarter. BNP Paribas Arbitrage SA now owns 13,136 shares of the insurance provider’s stock valued at $717,000 after purchasing an additional 5,491 shares in the last quarter. Mason Street Advisors LLC raised its stake in RLI Corp. by 7.2% in the first quarter. Mason Street Advisors LLC now owns 8,944 shares of the insurance provider’s stock valued at $537,000 after purchasing an additional 597 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in RLI Corp. by 3.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 218,930 shares of the insurance provider’s stock valued at $13,141,000 after purchasing an additional 7,349 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.
In related news, Director Michael J. Stone sold 3,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $57.95, for a total value of $173,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert P. Restrepo, Jr. purchased 1,200 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average cost of $57.58 per share, with a total value of $69,096.00. Following the purchase, the director now owns 7,000 shares of the company’s stock, valued at $403,060. The disclosure for this purchase can be found here. Insiders own 6.09% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Thursday, August 31st were given a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.47%. RLI Corp.’s payout ratio is presently 37.17%.
RLI Corp. Company Profile
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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