RLI Corp. (NYSE:RLI) – Analysts at FBR & Co raised their FY2017 earnings estimates for shares of RLI Corp. in a report issued on Tuesday, according to Zacks Investment Research. FBR & Co analyst R. Binner now expects that the insurance provider will post earnings per share of $1.55 for the year, up from their previous estimate of $1.50. FBR & Co currently has a “Hold” rating on the stock.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.44). The firm had revenue of $196.20 million for the quarter, compared to the consensus estimate of $195.89 million. RLI Corp. had a return on equity of 8.53% and a net margin of 9.97%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share.
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Several other research firms have also issued reports on RLI. Royal Bank of Canada restated an “underperform” rating and set a $51.00 target price (up from $50.00) on shares of RLI Corp. in a research report on Friday, October 20th. B. Riley reiterated a “neutral” rating on shares of RLI Corp. in a research report on Monday, November 6th. Zacks Investment Research lowered RLI Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Keefe, Bruyette & Woods set a $51.00 price objective on RLI Corp. and gave the company a “hold” rating in a research report on Wednesday, October 18th. Finally, BidaskClub lowered 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 assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $46.75.
Shares of RLI Corp. (NYSE:RLI) traded up $0.31 during trading hours on Thursday, reaching $59.33. The company’s stock had a trading volume of 101,700 shares, compared to its average volume of 157,767. The company has a market cap of $2,630.00, a PE ratio of 35.77 and a beta of 1.29. RLI Corp. has a 12-month low of $50.34 and a 12-month high of $64.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in RLI Corp. by 0.4% in the 2nd quarter. Jennison Associates LLC now owns 19,597 shares of the insurance provider’s stock valued at $1,070,000 after acquiring an additional 77 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in RLI Corp. by 0.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 32,402 shares of the insurance provider’s stock valued at $1,945,000 after acquiring an additional 89 shares in the last quarter. Stifel Financial Corp lifted its stake in RLI Corp. by 0.4% in the 2nd quarter. Stifel Financial Corp now owns 20,371 shares of the insurance provider’s stock valued at $1,118,000 after acquiring an additional 91 shares in the last quarter. Arizona State Retirement System lifted its stake in RLI Corp. by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 19,994 shares of the insurance provider’s stock valued at $1,092,000 after acquiring an additional 100 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in RLI Corp. by 0.7% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,180 shares of the insurance provider’s stock valued at $829,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.15% of the company’s stock.
In other RLI Corp. news, Director Michael J. Stone sold 991 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $57.40, for a total value of $56,883.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael E. Angelina bought 1,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average price of $54.41 per share, for a total transaction of $54,410.00. The disclosure for this purchase can be found here. Insiders own 6.09% of the company’s stock.
The company also recently announced a special dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Thursday, November 30th will be paid a $1.75 dividend. This represents a yield of 1.42%. The ex-dividend date is Wednesday, November 29th. RLI Corp.’s payout ratio is 46.67%.
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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