RLI (NYSE:RLI) posted its quarterly earnings results on Wednesday, October 16th. The insurance provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06, Bloomberg Earnings reports. The firm had revenue of $228.79 million for the quarter, compared to analysts’ expectations of $229.19 million. RLI had a return on equity of 11.51% and a net margin of 12.91%.
Shares of RLI stock traded up $0.07 during trading hours on Friday, hitting $95.96. 76,181 shares of the company’s stock traded hands, compared to its average volume of 136,723. The company has a fifty day simple moving average of $93.95 and a 200-day simple moving average of $89.30. RLI has a 12-month low of $64.48 and a 12-month high of $99.51. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 46.81 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.38 and a quick ratio of 0.38.
A number of equities analysts recently issued reports on the company. B. Riley reiterated a “neutral” rating on shares of RLI in a report on Tuesday, October 15th. Keefe, Bruyette & Woods increased their target price on RLI from $81.00 to $88.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. ValuEngine cut RLI from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JMP Securities reiterated a “hold” rating on shares of RLI in a report on Monday, September 23rd. Finally, Zacks Investment Research upgraded RLI from a “hold” rating to a “strong-buy” rating and set a $103.00 price objective on the stock in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $83.50.
In related news, Director Michael E. Angelina bought 1,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was acquired at an average price of $90.79 per share, for a total transaction of $90,790.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Stone sold 1,433 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $92.67, for a total value of $132,796.11. The disclosure for this sale can be found here. Company insiders own 5.01% of the company’s stock.
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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