RLI (NYSE:RLI) Sets New 1-Year High at $99.68

RLI Corp (NYSE:RLI) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $99.68 and last traded at $99.27, with a volume of 925 shares. The stock had previously closed at $98.03.

Several research firms have recently commented on RLI. Zacks Investment Research upgraded RLI from a “hold” rating to a “strong-buy” rating and set a $103.00 price objective on the stock in a report on Monday, October 21st. B. Riley reiterated a “neutral” rating on shares of RLI in a report on Tuesday, October 15th. Royal Bank of Canada set a $95.00 price objective on RLI and gave the stock a “hold” rating in a report on Friday, October 18th. JMP Securities reiterated a “hold” rating on shares of RLI in a report on Monday, September 23rd. Finally, ValuEngine downgraded RLI from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $83.50.

The stock has a market cap of $4.37 billion, a PE ratio of 48.44 and a beta of 0.73. The company has a fifty day moving average price of $94.72 and a 200 day moving average price of $90.10. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.15.

RLI (NYSE:RLI) last posted its earnings results on Wednesday, October 16th. The insurance provider reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.06. The company had revenue of $228.79 million for the quarter, compared to analysts’ expectations of $229.19 million. RLI had a return on equity of 11.51% and a net margin of 12.91%. As a group, research analysts predict that RLI Corp will post 2.47 earnings per share for the current year.

The firm also recently announced a None dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a $1.23 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a dividend yield of 0.9%. RLI’s payout ratio is presently 44.88%.

In other news, Director Michael E. Angelina acquired 1,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were acquired at an average cost of $90.79 per share, with a total value of $90,790.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael J. Stone sold 1,433 shares of RLI stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $92.67, for a total value of $132,796.11. The disclosure for this sale can be found here. 5.01% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in RLI in the 2nd quarter worth approximately $26,000. Krane Funds Advisors LLC acquired a new stake in RLI in the second quarter worth about $56,000. KBC Group NV acquired a new stake in RLI in the second quarter worth about $122,000. HM Payson & Co. acquired a new stake in RLI in the second quarter worth about $133,000. Finally, Quantamental Technologies LLC lifted its holdings in RLI by 2,535.2% in the second quarter. Quantamental Technologies LLC now owns 1,871 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 1,800 shares during the period. 87.24% of the stock is currently owned by institutional investors and hedge funds.

About RLI (NYSE:RLI)

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, and mercantile.

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