RLI (RLI) Sets New 52-Week High at $84.96

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RLI Corp (NYSE:RLI) reached a new 52-week high during trading on Monday . The company traded as high as $84.96 and last traded at $84.92, with a volume of 951 shares trading hands. The stock had previously closed at $84.17.

A number of research firms have recently commented on RLI. Zacks Investment Research raised shares of RLI from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Thursday, May 9th. TheStreet raised shares of RLI from a “c” rating to an “a-” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. RLI currently has a consensus rating of “Hold” and an average price target of $67.25.

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $3.75 billion, a P/E ratio of 41.50 and a beta of 0.98.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.12. RLI had a net margin of 13.11% and a return on equity of 11.36%. The company had revenue of $221.25 million for the quarter. On average, equities analysts predict that RLI Corp will post 2.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, May 31st will be paid a $0.23 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, May 30th. RLI’s dividend payout ratio is currently 42.93%.

In related news, Director Michael J. Stone sold 1,437 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $71.55, for a total transaction of $102,817.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael J. Stone sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $79.19, for a total transaction of $1,187,850.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,437 shares of company stock worth $1,995,067. Insiders own 5.01% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Murphy Pohlad Asset Management LLC acquired a new position in shares of RLI during the 4th quarter valued at $27,000. Intercontinental Wealth Advisors LLC acquired a new position in shares of RLI during the 4th quarter valued at $47,000. One Wealth Advisors LLC acquired a new position in shares of RLI during the 1st quarter valued at $78,000. Quadrant Capital Group LLC acquired a new position in shares of RLI during the 1st quarter valued at $80,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of RLI by 638.9% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,729 shares of the insurance provider’s stock valued at $124,000 after acquiring an additional 1,495 shares during the period. Institutional investors own 89.81% of the company’s stock.

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RLI Company Profile (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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