RLI (NYSE:RLI) Shares Scheduled to Split on Thursday, January 16th

Shares of RLI Corp. (NYSE:RLI) are set to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, January 15th.

RLI Stock Down 2.4 %

NYSE:RLI opened at $149.77 on Friday. The company has a market capitalization of $6.86 billion, a P/E ratio of 16.46 and a beta of 0.47. RLI has a 52 week low of $134.07 and a 52 week high of $182.29. The stock’s fifty day moving average is $168.91 and its two-hundred day moving average is $156.74.

RLI (NYSE:RLI) last issued its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.33. RLI had a net margin of 23.77% and a return on equity of 19.03%. The firm had revenue of $470.00 million for the quarter, compared to analyst estimates of $491.54 million. During the same period in the previous year, the firm earned $0.61 EPS. RLI’s revenue was up 41.7% on a year-over-year basis. Sell-side analysts anticipate that RLI will post 5.85 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently disclosed a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were issued a $4.29 dividend. This is a positive change from RLI’s previous None dividend of $2.25. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, November 29th. RLI’s dividend payout ratio is currently 12.75%.

Wall Street Analysts Forecast Growth

RLI has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wolfe Research started coverage on RLI in a report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price objective on the stock. Keefe, Bruyette & Woods lowered their target price on RLI from $201.00 to $200.00 and set an “outperform” rating for the company in a report on Friday. Compass Point boosted their price target on shares of RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada raised their price objective on shares of RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, RLI presently has a consensus rating of “Moderate Buy” and an average target price of $182.40.

Insider Buying and Selling at RLI

In related news, Director Michael J. Stone sold 200 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $169.55, for a total value of $33,910.00. Following the transaction, the director now owns 214,811 shares of the company’s stock, valued at $36,421,205.05. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. lifted its stake in RLI by 620.0% during the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 155 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of RLI during the 3rd quarter worth approximately $32,000. Versant Capital Management Inc boosted its holdings in shares of RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 77 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. 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.