RLI Corp. (NYSE:RLI) Director Michael J. Stone Sells 200 Shares

RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 200 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $169.55, for a total transaction of $33,910.00. Following the transaction, the director now directly owns 214,811 shares of the company’s stock, valued at approximately $36,421,205.05. This represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

RLI Stock Down 1.7 %

NYSE:RLI opened at $164.06 on Thursday. The firm has a market cap of $7.52 billion, a PE ratio of 18.03 and a beta of 0.46. RLI Corp. has a 12 month low of $128.16 and a 12 month high of $182.29. The company’s 50-day moving average price is $167.77 and its two-hundred day moving average price is $154.29.

RLI shares are going to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly created shares will be distributed to shareholders after the market closes on Wednesday, January 15th.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.33. The business had revenue of $470.00 million during the quarter, compared to analyst estimates of $491.54 million. RLI had a net margin of 23.77% and a return on equity of 19.03%. RLI’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. On average, research analysts expect that RLI Corp. will post 5.85 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently declared a None dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a dividend of $4.29 per share. This represents a dividend yield of 0.7%. This is an increase from RLI’s previous None dividend of $2.25. The ex-dividend date is Friday, November 29th. RLI’s payout ratio is 12.75%.

Institutional Trading of RLI

Several institutional investors and hedge funds have recently made changes to their positions in RLI. UMB Bank n.a. increased its holdings in RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 155 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in RLI in the third quarter worth $32,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after buying an additional 100 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares in the last quarter. Finally, American National Bank acquired a new stake in RLI during the 2nd quarter worth $35,000. Institutional investors own 77.89% of the company’s stock.

Wall Street Analysts Forecast Growth

RLI has been the subject of several research reports. Royal Bank of Canada increased their price objective on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group boosted their price objective on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wolfe Research initiated coverage on shares of RLI in a research report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price objective for the company. Oppenheimer started coverage on RLI in a research note on Wednesday, October 16th. They set a “market perform” rating on the stock. Finally, Compass Point lifted their price objective on RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, RLI currently has a consensus rating of “Moderate Buy” and an average target price of $177.40.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance. 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, and mercantile.