Insider Buying: RLI Corp. (RLI) Director Purchases 299 Shares of Stock

RLI Corp. (NYSE:RLI) Director Robert P. Restrepo, Jr. acquired 299 shares of RLI Corp. stock in a transaction dated Wednesday, November 22nd. The shares were purchased at an average cost of $59.75 per share, with a total value of $17,865.25. Following the completion of the transaction, the director now directly owns 8,325 shares of the company’s stock, valued at $497,418.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

RLI Corp. (NYSE RLI) traded down $0.17 during mid-day trading on Friday, hitting $59.62. The stock had a trading volume of 118,200 shares, compared to its average volume of 158,129. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2,620.00, a PE ratio of 36.13 and a beta of 1.29. RLI Corp. has a 52 week low of $50.34 and a 52 week high of $64.66.

RLI Corp. (NYSE:RLI) last posted its quarterly earnings data on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.44). RLI Corp. had a return on equity of 8.53% and a net margin of 9.97%. The firm had revenue of $196.20 million for the quarter, compared to analyst estimates of $195.89 million. During the same period in the prior year, the company earned $0.37 earnings per share. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. sell-side analysts anticipate that RLI Corp. will post 1.55 earnings per share for the current fiscal year.

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

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLI. Janus Henderson Group PLC bought a new stake in RLI Corp. during the second quarter worth about $24,542,000. Royce & Associates LP raised its holdings in RLI Corp. by 220.7% during the second quarter. Royce & Associates LP now owns 437,080 shares of the insurance provider’s stock worth $23,873,000 after acquiring an additional 300,800 shares in the last quarter. State Street Corp raised its holdings in RLI Corp. by 2.4% during the second quarter. State Street Corp now owns 6,297,222 shares of the insurance provider’s stock worth $343,954,000 after acquiring an additional 145,202 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in RLI Corp. by 22,871.8% during the third quarter. JPMorgan Chase & Co. now owns 133,466 shares of the insurance provider’s stock worth $7,723,000 after acquiring an additional 132,885 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in RLI Corp. during the third quarter worth about $5,525,000. Institutional investors and hedge funds own 84.59% of the company’s stock.

Several research analysts have recently weighed in on the company. B. Riley reaffirmed a “neutral” rating on shares of RLI Corp. in a research report on Monday, November 6th. Zacks Investment Research cut RLI Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, October 12th. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $51.00 price objective (up from $50.00) on shares of RLI Corp. in a research report on Friday, October 20th. Keefe, Bruyette & Woods set a $51.00 price objective on RLI Corp. and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Finally, BidaskClub cut RLI Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $46.75.

RLI Corp. Company Profile

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 Corp. (NYSE:RLI)

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