RLI Corp (NYSE:RLI) hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $94.99 and last traded at $94.99, with a volume of 5508 shares. The stock had previously closed at $91.88.

The insurance provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. RLI had a return on equity of 11.34% and a net margin of 13.63%. The company had revenue of $228.79 million for the quarter, compared to the consensus estimate of $229.19 million.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.94%. RLI’s dividend payout ratio (DPR) is presently 44.88%.

A number of research firms recently weighed in on RLI. Royal Bank of Canada set a $84.00 price target on RLI and gave the company a “hold” rating in a research note on Friday, July 19th. ValuEngine downgraded RLI from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their price target on RLI from $81.00 to $88.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Finally, JMP Securities restated a “hold” rating on shares of RLI in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. RLI has a consensus rating of “Hold” and an average target price of $78.00.

In related news, Director Michael J. Stone sold 1,433 shares of RLI stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $92.67, for a total value of $132,796.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Stone sold 15,000 shares of RLI stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $91.94, for a total value of $1,379,100.00. The disclosure for this sale can be found here. 5.01% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in RLI by 1.6% during the second quarter. BlackRock Inc. now owns 5,762,035 shares of the insurance provider’s stock worth $493,862,000 after purchasing an additional 88,848 shares in the last quarter. Vanguard Group Inc. boosted its position in RLI by 0.7% during the second quarter. Vanguard Group Inc. now owns 4,790,316 shares of the insurance provider’s stock worth $410,578,000 after purchasing an additional 34,303 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in RLI by 3.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,023,707 shares of the insurance provider’s stock worth $173,453,000 after purchasing an additional 62,645 shares in the last quarter. JPMorgan Chase & Co. boosted its position in RLI by 5.6% during the second quarter. JPMorgan Chase & Co. now owns 1,566,041 shares of the insurance provider’s stock worth $134,257,000 after purchasing an additional 83,152 shares in the last quarter. Finally, Morgan Stanley boosted its position in RLI by 36.8% during the second quarter. Morgan Stanley now owns 299,052 shares of the insurance provider’s stock worth $25,632,000 after purchasing an additional 80,514 shares in the last quarter. Institutional investors own 88.29% of the company’s stock.

The company has a market capitalization of $4.25 billion, a PE ratio of 47.65 and a beta of 0.75. The stock has a 50-day simple moving average of $91.81 and a 200 day simple moving average of $86.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.38 and a quick ratio of 0.38.

RLI Company Profile (NYSE:RLI)

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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