$0.50 EPS Expected for RLI Corp. (RLI) This Quarter
Equities research analysts expect that RLI Corp. (NYSE:RLI) will post earnings of $0.50 per share for the current quarter, according to Zacks. Two analysts have issued estimates for RLI’s earnings. RLI posted earnings of $0.51 per share during the same quarter last year, which would indicate a negative year over year growth rate of 2%. The firm is scheduled to report its next earnings results on Wednesday, January 23rd.
On average, analysts expect that RLI will report full-year earnings of $1.90 per share for the current fiscal year, with EPS estimates ranging from $1.64 to $2.16. For the next year, analysts expect that the company will report earnings of $2.20 per share. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow RLI.
RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, October 17th. The insurance provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). RLI had a return on equity of 11.39% and a net margin of 16.64%. The business had revenue of $217.13 million for the quarter, compared to analyst estimates of $214.55 million.
In related news, Director Michael J. Stone sold 1,422 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $77.63, for a total value of $110,389.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael J. Stone sold 5,000 shares of the stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $77.84, for a total value of $389,200.00. The disclosure for this sale can be found here. Company insiders own 5.54% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC grew its stake in shares of RLI by 1.6% during the third quarter. Teachers Advisors LLC now owns 82,513 shares of the insurance provider’s stock valued at $6,484,000 after buying an additional 1,324 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of RLI by 148.2% during the third quarter. AQR Capital Management LLC now owns 8,425 shares of the insurance provider’s stock valued at $662,000 after buying an additional 5,030 shares during the last quarter. MetLife Investment Advisors LLC grew its stake in shares of RLI by 46.8% during the third quarter. MetLife Investment Advisors LLC now owns 26,409 shares of the insurance provider’s stock valued at $2,075,000 after buying an additional 8,417 shares during the last quarter. Man Group plc grew its stake in shares of RLI by 62.9% during the third quarter. Man Group plc now owns 115,939 shares of the insurance provider’s stock valued at $9,111,000 after buying an additional 44,770 shares during the last quarter. Finally, BlueMountain Capital Management LLC bought a new position in shares of RLI during the third quarter valued at about $121,000. Institutional investors and hedge funds own 87.74% of the company’s stock.
Shares of NYSE RLI opened at $73.89 on Friday. RLI has a 1-year low of $56.94 and a 1-year high of $79.98. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 45.89 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.37 and a quick ratio of 0.37.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Friday, November 30th will be given a $0.22 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.19%. RLI’s dividend payout ratio (DPR) is presently 54.66%.
RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, real estate investment trusts, and mercantile.
Further Reading: Cost of Equity For A Business, Investors
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