Brokerages Set $56.00 Price Target for RLI Corp. (RLI)
Shares of RLI Corp. (NYSE:RLI) have been assigned an average broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating.
Analysts have set a 12-month consensus price target of $56.00 for the company and are anticipating that the company will post $0.61 EPS for the current quarter, according to Zacks. Zacks has also given RLI Corp. an industry rank of 206 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th.
In other news, Director Robert P. Restrepo, Jr. acquired 600 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average price of $70.63 per share, with a total value of $42,378.00. Following the acquisition, the director now directly owns 900 shares in the company, valued at $63,567. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Stone sold 907 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $67.39, for a total transaction of $61,122.73. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in RLI Corp. by 160.1% in the second quarter. Creative Planning now owns 17,502 shares of the company’s stock worth $1,204,000 after buying an additional 10,772 shares during the period. BNP Paribas Arbitrage SA boosted its stake in RLI Corp. by 149.7% in the second quarter. BNP Paribas Arbitrage SA now owns 16,904 shares of the company’s stock worth $1,163,000 after buying an additional 10,134 shares during the period. LPL Financial LLC boosted its stake in RLI Corp. by 1.4% in the first quarter. LPL Financial LLC now owns 26,067 shares of the company’s stock worth $1,722,000 after buying an additional 349 shares during the period. Geode Capital Management LLC boosted its stake in RLI Corp. by 8.1% in the first quarter. Geode Capital Management LLC now owns 257,396 shares of the company’s stock worth $17,209,000 after buying an additional 19,191 shares during the period. Finally, Loomis Sayles & Co. L P boosted its stake in RLI Corp. by 80.7% in the first quarter. Loomis Sayles & Co. L P now owns 2,702 shares of the company’s stock worth $181,000 after buying an additional 1,207 shares during the period. 79.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of RLI Corp. (NYSE:RLI) opened at 68.38 on Monday. RLI Corp. has a one year low of $56.56 and a one year high of $71.46. The firm has a 50 day moving average of $68.70 and a 200 day moving average of $67.05. The stock has a market cap of $2.99 billion, a P/E ratio of 23.26 and a beta of 0.91.
RLI Corp. (NYSE:RLI) last issued its earnings results on Tuesday, July 19th. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $196 million for the quarter, compared to analysts’ expectations of $208.20 million. RLI Corp. had a net margin of 16.16% and a return on equity of 12.24%. During the same period in the prior year, the company earned $0.77 earnings per share. On average, equities research analysts predict that RLI Corp. will post $2.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Wednesday, August 31st were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. RLI Corp.’s dividend payout ratio (DPR) is presently 27.30%.
RLI Corp. Company Profile
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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