Insider Selling: RLI Corp. (RLI) Director Sells $119,360.00 in Stock

RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 2,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $59.68, for a total value of $119,360.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of RLI Corp. (RLI) opened at $58.14 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $2,570.89, a PE ratio of 35.36 and a beta of 1.27. RLI Corp. has a one year low of $50.34 and a one year high of $64.03.

RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.44). The firm had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $195.89 million. RLI had a net margin of 9.97% and a return on equity of 8.53%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. equities research analysts forecast that RLI Corp. will post 1.55 earnings per share for the current year.

The company also recently declared a special dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Thursday, November 30th will be paid a dividend of $1.75 per share. The ex-dividend date is Wednesday, November 29th. This represents a yield of 1.42%. RLI’s payout ratio is presently 46.67%.

Several research analysts recently weighed in on the company. Royal Bank Of Canada restated an “underperform” rating and set a $51.00 target price (up from $50.00) on shares of RLI in a research note on Friday, October 20th. B. Riley restated a “neutral” rating on shares of RLI in a research note on Monday, November 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $55.00 price target on shares of RLI in a research note on Wednesday. Zacks Investment Research downgraded RLI from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Finally, BidaskClub downgraded RLI from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $47.75.

Institutional investors have recently bought and sold shares of the business. Flinton Capital Management LLC lifted its holdings in shares of RLI by 60.3% in the 2nd quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock valued at $109,000 after buying an additional 752 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of RLI by 64.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock valued at $125,000 after buying an additional 896 shares during the period. Bank of Montreal Can lifted its holdings in shares of RLI by 5.8% in the 2nd quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock valued at $138,000 after buying an additional 139 shares during the period. Zions Bancorporation acquired a new position in shares of RLI in the 3rd quarter valued at about $145,000. Finally, Shelton Capital Management acquired a new position in shares of RLI in the 2nd quarter valued at about $208,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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About RLI

RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.

Insider Buying and Selling by Quarter for RLI (NYSE:RLI)

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