Key Points
- RLI COO Jennifer Klobnak bought 2,000 shares on May 19 at an average price of $53.42, a transaction worth $106,840. After the purchase, she owned 102,318 shares, increasing her stake by 1.99%.
- RLI recently beat earnings expectations, reporting $0.83 EPS versus the $0.73 consensus, though quarterly revenue came in below estimates at $423.87 million. Revenue still rose 4.0% year over year, and analysts expect full-year EPS of 2.7.
- The company raised its quarterly dividend to $0.18 per share from $0.16, putting the annualized dividend at $0.72 and the yield at 1.4%. RLI’s payout ratio remains low at 14.95%.
RLI Corp. (NYSE:RLI - Get Free Report) COO Jennifer Klobnak acquired 2,000 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $53.42 per share, for a total transaction of $106,840.00. Following the completion of the acquisition, the chief operating officer directly owned 102,318 shares in the company, valued at approximately $5,465,827.56. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
RLI Price Performance
RLI opened at $52.12 on Wednesday. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 12.18 and a beta of 0.42. The firm's fifty day moving average price is $55.96 and its two-hundred day moving average price is $59.76. RLI Corp. has a 1 year low of $47.26 and a 1 year high of $77.24.
RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.10. The firm had revenue of $423.87 million for the quarter, compared to the consensus estimate of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. As a group, equities analysts anticipate that RLI Corp. will post 2.7 EPS for the current year.
RLI Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.4%. This is a positive change from RLI's previous quarterly dividend of $0.16. RLI's payout ratio is presently 14.95%.
Wall Street Analysts Forecast Growth
RLI has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of RLI from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of RLI in a report on Thursday, April 2nd. Citizens Jmp reaffirmed a "market perform" rating on shares of RLI in a report on Friday, January 23rd. Truist Financial set a $58.00 price objective on shares of RLI in a report on Friday, January 23rd. Finally, Zacks Research raised shares of RLI from a "strong sell" rating to a "hold" rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $61.50.
Check Out Our Latest Research Report on RLI
Hedge Funds Weigh In On RLI
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quent Capital LLC purchased a new position in shares of RLI in the 3rd quarter worth about $26,000. Farther Finance Advisors LLC boosted its holdings in shares of RLI by 94.4% in the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider's stock worth $26,000 after buying an additional 201 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of RLI by 156.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider's stock worth $30,000 after buying an additional 283 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of RLI by 72.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider's stock worth $40,000 after buying an additional 259 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of RLI in the 3rd quarter worth about $43,000. 77.89% of the stock is owned by hedge funds and other institutional investors.
RLI Company Profile
(
Get Free Report)
RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI's approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.
Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.
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