Key Points
- RLI director David Duclos bought 2,500 shares on May 28 at an average price of $51.99, a transaction worth $129,975 that increased his holdings by 34.34% to 9,780 shares.
- RLI recently beat earnings expectations, reporting $0.83 EPS versus the $0.73 consensus, though revenue came in below estimates at $423.87 million.
- The company raised its quarterly dividend to $0.18 per share from $0.16, implying a 1.4% annualized yield and a payout ratio of 14.95%.
RLI Corp. (NYSE:RLI - Get Free Report) Director David Duclos bought 2,500 shares of the business's stock in a transaction on Thursday, May 28th. The stock was bought at an average price of $51.99 per share, for a total transaction of $129,975.00. Following the purchase, the director directly owned 9,780 shares of the company's stock, valued at $508,462.20. The trade was a 34.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
RLI Stock Performance
Shares of RLI stock opened at $50.03 on Friday. The company has a market capitalization of $4.60 billion, a PE ratio of 11.69 and a beta of 0.42. The company has a 50-day simple moving average of $54.54 and a two-hundred day simple moving average of $59.32. RLI Corp. has a one year low of $47.26 and a one year high of $77.24.
RLI (NYSE:RLI - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.10. The business had revenue of $423.87 million during 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 firm's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. On average, equities analysts predict that RLI Corp. will post 2.75 earnings per share for the current fiscal year.
RLI Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a $0.18 dividend. This is an increase from RLI's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th. RLI's dividend payout ratio is presently 14.95%.
Analysts Set New Price Targets
Several equities analysts have issued reports on RLI shares. Weiss Ratings lowered shares of RLI from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 22nd. Wall Street Zen lowered shares of RLI from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Zacks Research raised shares of RLI from a "strong sell" rating to a "hold" rating in a report on Thursday, April 2nd. Keefe, Bruyette & Woods upgraded RLI from a "moderate buy" rating to a "strong-buy" rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company dropped their price target on RLI from $59.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $61.50.
View Our Latest Analysis on RLI
Institutional Investors Weigh In On RLI
Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its holdings in shares of RLI by 94.4% during the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider's stock valued at $26,000 after buying an additional 201 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of RLI by 156.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider's stock valued at $30,000 after buying an additional 283 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of RLI by 72.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider's stock valued at $40,000 after buying an additional 259 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of RLI during the third quarter valued at $43,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of RLI during the fourth quarter valued at $43,000. 77.89% of the stock is owned by hedge funds and other institutional investors.
About RLI
(
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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