RLI Corp. (RLI) Reaches New 12-Month High at $69.87
RLI Corp. (NYSE:RLI) shares 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 changing hands. The stock had previously closed at $69.40.
Separately, Zacks Investment Research raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Five investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $58.80.
The stock has a market cap of $3.05 billion and a price-to-earnings ratio of 23.68. The company has a 50-day moving average price of $68.70 and a 200-day moving average price of $65.87.
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, topping the consensus estimate of $0.60 by $0.01. During the same quarter in the prior year, the company earned $0.77 earnings per share. The business had revenue of $196 million for the quarter, compared to the consensus estimate of $208.20 million. Equities analysts anticipate that RLI Corp. will post $2.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Wednesday, August 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.80 annualized dividend and a dividend yield of 1.15%.
In other RLI Corp. news, VP Todd Wayne Bryant sold 9,600 shares of the company’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $66.95, for a total value of $642,720.00. Following the completion of the transaction, the vice president now owns 12,532 shares of the company’s stock, valued at approximately $839,017.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael J. Stone sold 903 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $68.16, for a total value of $61,548.48. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of 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 position 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 worth $2,086,000 after buying an additional 17,923 shares during the last quarter. Principal Financial Group Inc. boosted its position 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 worth $15,937,000 after buying an additional 11,779 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of 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 worth $2,482,000 after buying an additional 800 shares during 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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