Wall Street analysts predict that RLI Corp. (NYSE:RLI) will announce sales of $217.97 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for RLI’s earnings. The lowest sales estimate is $216.90 million and the highest is $219.03 million. RLI reported sales of $202.74 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The business is scheduled to issue its next earnings report on Wednesday, January 23rd.
According to Zacks, analysts expect that RLI will report full year sales of $849.21 million for the current financial year, with estimates ranging from $846.90 million to $851.52 million. For the next fiscal year, analysts expect that the firm will report sales of $896.99 million, with estimates ranging from $888.80 million to $905.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover RLI.
RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, October 17th. The insurance provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). RLI had a return on equity of 11.39% and a net margin of 16.64%. The business had revenue of $217.13 million during the quarter, compared to analyst estimates of $214.55 million.
In other news, Director Michael J. Stone sold 1,422 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $77.63, for a total transaction of $110,389.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Stone sold 5,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $77.84, for a total transaction of $389,200.00. The disclosure for this sale can be found here. Insiders own 5.54% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in RLI. Whittier Trust Co. of Nevada Inc. raised its stake in shares of RLI by 31.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,639 shares of the insurance provider’s stock valued at $241,000 after purchasing an additional 875 shares in the last quarter. BlackRock Inc. raised its stake in shares of RLI by 9.6% during the second quarter. BlackRock Inc. now owns 5,492,617 shares of the insurance provider’s stock valued at $363,557,000 after purchasing an additional 481,588 shares in the last quarter. New England Asset Management Inc. bought a new stake in shares of RLI during the second quarter valued at about $278,000. Principal Financial Group Inc. raised its stake in shares of RLI by 3.2% during the first quarter. Principal Financial Group Inc. now owns 304,072 shares of the insurance provider’s stock valued at $19,275,000 after purchasing an additional 9,483 shares in the last quarter. Finally, Vaughan David Investments LLC IL raised its stake in shares of RLI by 225.1% during the third quarter. Vaughan David Investments LLC IL now owns 1,858,287 shares of the insurance provider’s stock valued at $146,024,000 after purchasing an additional 1,286,660 shares in the last quarter. 87.74% of the stock is owned by institutional investors.
Shares of RLI traded up $0.67 during midday trading on Monday, hitting $75.11. 115,500 shares of the stock traded hands, compared to its average volume of 150,769. RLI has a 1-year low of $56.94 and a 1-year high of $79.98. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 46.65 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.37 and a current ratio of 0.37.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, November 29th. RLI’s dividend payout ratio (DPR) is 54.66%.
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.
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