Michael J. Stone Sells 1,141 Shares of RLI Corp. (NYSE:RLI) Stock

RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 1,141 shares of RLI stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $59.40, for a total value of $67,775.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

RLI Corp. (NYSE RLI) traded down $0.14 during midday trading on Thursday, hitting $59.02. The company had a trading volume of 97,100 shares, compared to its average volume of 162,657. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2,610.00, a PE ratio of 32.79 and a beta of 1.30. RLI Corp. has a 12 month low of $50.34 and a 12 month high of $62.00.

RLI (NYSE:RLI) last posted 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 had a net margin of 9.97% and a return on equity of 8.53%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 earnings per share. equities analysts anticipate that RLI Corp. will post 1.56 EPS for the current year.

The company also recently disclosed a special dividend, which was paid on Wednesday, December 27th. Shareholders of record on Thursday, November 30th were given a dividend of $1.75 per share. The ex-dividend date was Wednesday, November 29th. This represents a yield of 1.42%. RLI’s payout ratio is 46.67%.

A number of institutional investors have recently bought and sold shares of the business. Stifel Financial Corp boosted its position in RLI by 0.4% during 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. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of RLI 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 worth $829,000 after purchasing an additional 100 shares in the last quarter. Bank of Montreal Can boosted its position in shares of RLI by 5.8% in the 2nd quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock worth $138,000 after purchasing an additional 139 shares in the last quarter. Commerce Bank boosted its position in shares of RLI by 2.2% in the 2nd quarter. Commerce Bank now owns 6,890 shares of the insurance provider’s stock worth $376,000 after purchasing an additional 146 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of RLI by 0.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 32,638 shares of the insurance provider’s stock worth $1,783,000 after purchasing an additional 236 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on RLI. Zacks Investment Research upgraded RLI from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Monday. B. Riley reiterated a “neutral” rating on shares of RLI in a report on Monday, November 6th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $55.00 target price on shares of RLI in a research note on Wednesday, December 6th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $51.00 target price (up from $50.00) on shares of RLI in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $57.67.

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About RLI

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.

Insider Buying and Selling by Quarter for RLI (NYSE:RLI)

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