RLI Corp. (NYSE:RLI) Director Michael J. Stone Sells 15,000 Shares

RLI Corp. (NYSE:RLI) Director Michael J. Stone sold 15,000 shares of the stock in a transaction on Friday, May 4th. The stock was sold at an average price of $63.91, for a total value of $958,650.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

RLI stock opened at $65.98 on Wednesday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 37.36 and a beta of 1.23. RLI Corp. has a 12-month low of $65.37 and a 12-month high of $66.26. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.18.

RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, April 18th. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.07. The business had revenue of $204.26 million for the quarter, compared to analysts’ expectations of $203.31 million. RLI had a return on equity of 9.10% and a net margin of 12.39%. equities analysts predict that RLI Corp. will post 2.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Thursday, May 31st will be issued a $0.22 dividend. This is a boost from RLI’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $0.88 annualized dividend and a yield of 1.33%. RLI’s dividend payout ratio (DPR) is currently 52.17%.

A number of institutional investors have recently bought and sold shares of RLI. JPMorgan Chase & Co. boosted its holdings in RLI by 55.3% in the first quarter. JPMorgan Chase & Co. now owns 795,049 shares of the insurance provider’s stock valued at $50,398,000 after acquiring an additional 283,161 shares during the last quarter. Port Capital LLC bought a new position in RLI during the fourth quarter worth about $10,292,000. BlackRock Inc. boosted its holdings in RLI by 3.3% during the fourth quarter. BlackRock Inc. now owns 4,925,896 shares of the insurance provider’s stock worth $298,806,000 after buying an additional 158,009 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in RLI by 5.1% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,766,809 shares of the insurance provider’s stock worth $111,999,000 after buying an additional 85,261 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in RLI by 15.2% during the fourth quarter. Royce & Associates LP now owns 610,918 shares of the insurance provider’s stock worth $37,058,000 after buying an additional 80,458 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Several analysts have recently commented on RLI shares. Zacks Investment Research cut RLI from a “hold” rating to a “sell” rating in a report on Tuesday, March 27th. ValuEngine upgraded RLI from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $59.33.

RLI Company Profile

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, real estate investment trusts, and mercantile.

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

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