Somewhat Favorable News Coverage Somewhat Unlikely to Affect RLI (RLI) Stock Price
Press coverage about RLI (NYSE:RLI) has been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. RLI earned a news sentiment score of 0.22 on Accern’s scale. Accern also assigned press coverage about the insurance provider an impact score of 47.5304519974468 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s analysis:
- BRIEF-Alaska Airlines, Virgin America And Its Flight Attendants Reach Tentative Merger Agreement (feeds.reuters.com)
- Bloomberg Tax Introduces Advantage™, a Suite of Software Solutions that Changes the Way Corporations Manage Tax (prnewswire.com)
- UPDATE 1-Free public transport no substitute for vehicle changes, Germany says (feeds.reuters.com)
- Capital Impact Partners Awarded $65 million in New Markets Tax Credits To Attract Private Capital and Advance Social Impact Efforts (prnewswire.com)
- Airlines turn to technology to solve overbooking puzzle (feeds.reuters.com)
RLI (NYSE:RLI) opened at $62.07 on Thursday. The firm has a market cap of $2,681.48, a PE ratio of 26.19 and a beta of 1.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.34 and a quick ratio of 0.35. RLI has a 12 month low of $50.34 and a 12 month high of $65.68.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Wednesday, February 28th will be paid a $0.21 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.35%. RLI’s payout ratio is 35.44%.
RLI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods set a $51.00 price objective on shares of RLI and gave the stock a “hold” rating in a report on Wednesday, October 18th. Royal Bank of Canada reiterated an “underperform” rating and issued a $51.00 target price (up previously from $50.00) on shares of RLI in a research note on Friday, October 20th. B. Riley reiterated a “neutral” rating on shares of RLI in a research note on Monday, November 6th. Finally, Zacks Investment Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. RLI currently has an average rating of “Hold” and a consensus price target of $57.67.
In other news, Director Michael J. Stone sold 5,000 shares of RLI stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $65.36, for a total value of $326,800.00. Following the completion of the transaction, the director now owns 9,000 shares in the company, valued at $588,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Aaron Paul Diefenthaler sold 900 shares of RLI stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $64.77, for a total transaction of $58,293.00. The disclosure for this sale can be found here. Insiders sold 11,041 shares of company stock valued at $692,888 in the last quarter. Corporate insiders own 6.09% of the company’s stock.
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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.
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