RLI Corp. (NYSE:RLI – Get Free Report) insider Jeffrey D. Fick bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average cost of $72.13 per share, with a total value of $144,260.00. Following the transaction, the insider now owns 142,061 shares in the company, valued at approximately $10,246,859.93. This represents a 1.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
RLI Stock Performance
Shares of NYSE RLI traded up $0.04 during midday trading on Monday, reaching $72.52. 693,792 shares of the company’s stock were exchanged, compared to its average volume of 610,321. The stock has a market capitalization of $6.65 billion, a PE ratio of 19.36 and a beta of 0.47. RLI Corp. has a 52-week low of $67.04 and a 52-week high of $91.14. The business’s fifty day moving average price is $82.71 and its two-hundred day moving average price is $78.91.
RLI (NYSE:RLI – Get Free Report) last announced its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.38%. Analysts predict that RLI Corp. will post 3.13 earnings per share for the current fiscal year.
RLI Cuts Dividend
Wall Street Analysts Forecast Growth
RLI has been the subject of several recent research reports. Keefe, Bruyette & Woods dropped their price objective on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Oppenheimer initiated coverage on RLI in a report on Wednesday, October 16th. They issued a “market perform” rating for the company. JMP Securities restated a “market perform” rating on shares of RLI in a research note on Thursday. Wolfe Research assumed coverage on RLI in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $91.00 target price for the company. Finally, Royal Bank of Canada dropped their target price on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $82.80.
Read Our Latest Research Report on RLI
Institutional Investors Weigh In On RLI
Hedge funds and other institutional investors have recently modified their holdings of the stock. Motiv8 Investments LLC bought a new position in RLI during the third quarter worth $217,000. Donaldson Capital Management LLC bought a new position in shares of RLI in the 3rd quarter worth about $3,469,000. American National Bank & Trust lifted its position in shares of RLI by 62.5% in the 3rd quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock worth $62,000 after buying an additional 155 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of RLI by 18.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 161,880 shares of the insurance provider’s stock valued at $22,775,000 after buying an additional 24,865 shares during the period. Finally, Laurus Investment Counsel Inc. grew its position in shares of RLI by 53.2% during the 3rd quarter. Laurus Investment Counsel Inc. now owns 10,280 shares of the insurance provider’s stock valued at $1,593,000 after buying an additional 3,570 shares during the last quarter. 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.
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