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

RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 200 shares of RLI stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $169.55, for a total transaction of $33,910.00. Following the transaction, the director now owns 214,811 shares in the company, valued at $36,421,205.05. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

RLI Stock Down 0.2 %

Shares of RLI traded down $0.41 during midday trading on Monday, hitting $170.34. The company had a trading volume of 173,803 shares, compared to its average volume of 155,186. The company’s 50 day moving average price is $166.94 and its 200 day moving average price is $153.88. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 18.76 and a beta of 0.46. RLI Corp. has a 52 week low of $126.71 and a 52 week high of $182.29.

Shares of RLI are set to split on the morning of Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly created shares will be payable to shareholders after the closing bell on Wednesday, January 15th.

RLI (NYSE:RLI) last released its earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.33. RLI had a net margin of 23.77% and a return on equity of 19.03%. The company had revenue of $470.00 million during the quarter, compared to the consensus estimate of $491.54 million. During the same quarter in the previous year, the firm earned $0.61 EPS. The company’s revenue was up 41.7% on a year-over-year basis. Equities analysts anticipate that RLI Corp. will post 5.85 EPS for the current fiscal year.

RLI Increases Dividend

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

Analyst Upgrades and Downgrades

RLI has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on shares of RLI in a report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price objective on the stock. Compass Point boosted their price objective on shares of RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, October 25th. 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. Royal Bank of Canada boosted their price objective on shares of RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer initiated coverage on shares of RLI in a report on Wednesday, October 16th. They issued a “market perform” rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.40.

Institutional Investors Weigh In On RLI

Institutional investors have recently modified their holdings of the business. UMB Bank n.a. increased its holdings in shares of 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 bought a new stake in shares of RLI in the third quarter valued at about $32,000. American National Bank bought a new stake in shares of RLI in the second quarter valued at about $35,000. Nomura Asset Management Co. Ltd. boosted its position in shares of RLI by 76.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 100 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of RLI by 45.6% in the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 77 shares during the period. Institutional investors own 77.89% of the company’s stock.

RLI Company Profile

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.