RLI Corp. (RLI) Sets New 1-Year High at $69.87
RLI Corp. (NYSE:RLI) hit a new 52-week high on Tuesday . The company traded as high as $69.87 and last traded at $69.36, with a volume of 25,555 shares. The stock had previously closed at $69.40.
Separately, Zacks Investment Research cut shares of RLI Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Five equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $58.80.
The firm’s 50-day moving average price is $68.63 and its 200 day moving average price is $65.77. The company has a market cap of $3.04 billion and a P/E ratio of 23.62.
RLI Corp. (NYSE:RLI) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $196 million for the quarter, compared to the consensus estimate of $208.20 million. During the same quarter in the previous year, the business earned $0.77 EPS. Analysts expect that RLI Corp. will post $2.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Wednesday, August 31st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%.
In other news, VP Todd Wayne Bryant sold 9,600 shares of the business’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $66.95, for a total value of $642,720.00. Following the completion of the sale, the vice president now owns 12,532 shares in the company, valued at approximately $839,017.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Stone sold 903 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $68.16, for a total transaction of $61,548.48. The disclosure for this sale can be found here.
Several large investors have bought and sold shares of RLI. Jennison Associates LLC raised its stake in 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. New York State Common Retirement Fund raised its stake in RLI Corp. by 2.0% in the fourth quarter. New York State Common Retirement Fund now owns 40,200 shares of the company’s stock valued at $2,482,000 after buying an additional 800 shares in the last quarter. Principal Financial Group Inc. raised its stake in 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. Finally, Dimensional Fund Advisors LP raised 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 valued at $68,117,000 after buying an additional 28,163 shares in the last quarter.
RLI Corp. is a specialty insurance company. The Company operates through three segments: Casualty, Property and Surety. The Casualty segment consists of general liability, personal umbrella, transportation, executive products and commercial umbrella coverages, as well as package business and other specialty coverages.
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