RLI Corp. (RLI) Hits New 1-Year High at $69.09
RLI Corp. (NYSE:RLI) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $69.09 and last traded at $68.86, with a volume of 76,273 shares changing hands. The stock had previously closed at $68.38.
A number of equities research analysts have issued reports on the stock. Compass Point reissued a “hold” rating and set a $58.00 target price (up previously from $55.00) on shares of RLI Corp. in a report on Saturday, April 23rd. FBR & Co reissued a “hold” rating on shares of RLI Corp. in a report on Saturday, April 23rd. Finally, Zacks Investment Research raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Five research analysts have rated the stock with a hold rating, RLI Corp. currently has a consensus rating of “Hold” and an average target price of $58.80.
The stock has a market capitalization of $3.00 billion and a PE ratio of 21.95. The company’s 50-day moving average price is $66.20 and its 200-day moving average price is $64.15.
RLI Corp. (NYSE:RLI) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.05. The firm had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $194.04 million. During the same quarter in the previous year, the company earned $0.50 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts anticipate that RLI Corp. will post $2.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Tuesday, May 31st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, May 26th. This is an increase from RLI Corp.’s previous quarterly dividend of $0.19.
In other news, Director Michael J. Stone sold 903 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $68.16, for a total transaction of $61,548.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Todd Wayne Bryant sold 9,600 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $66.95, for a total transaction of $642,720.00. Following the sale, the vice president now owns 12,532 shares in the company, valued at approximately $839,017.40. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of RLI. Dimensional Fund Advisors LP boosted its stake in RLI Corp. by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,103,084 shares of the company’s stock worth $68,117,000 after buying an additional 28,163 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of RLI Corp. by 113.0% in the fourth quarter. Jennison Associates LLC now owns 33,778 shares of the company’s stock valued at $2,086,000 after buying an additional 17,923 shares in the last quarter. WBI Investments Inc. bought a new stake in shares of RLI Corp. during the fourth quarter valued at about $4,134,000. Bragg Financial Advisors Inc boosted its stake in shares of RLI Corp. by 11.4% in the fourth quarter. Bragg Financial Advisors Inc now owns 64,155 shares of the company’s stock valued at $3,962,000 after buying an additional 6,540 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of RLI Corp. by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 258,088 shares of the company’s stock valued at $15,937,000 after buying an additional 11,779 shares in the last quarter.
RLI Corp. underwrites selected property and casualty insurance through major subsidiaries collectively known as RLI Insurance Group. The Company conducts operations through four insurance companies. These companies are organized in a vertical structure beneath RLI Corp. with RLI Insurance Company (RLI Ins.) as the principal, insurance subsidiary.
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