Insider Selling: RLI Corp (RLI) Director Sells $102,817.35 in Stock

RLI Corp (NYSE:RLI) Director Michael J. Stone sold 1,437 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $71.55, for a total value of $102,817.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of RLI stock traded up $0.49 on Friday, reaching $79.85. The company’s stock had a trading volume of 163,098 shares, compared to its average volume of 130,579. The stock has a market capitalization of $3.51 billion, a PE ratio of 38.95 and a beta of 0.93. RLI Corp has a 52-week low of $62.30 and a 52-week high of $80.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.37 and a quick ratio of 0.37.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, April 17th. The insurance provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.12. RLI had a return on equity of 11.36% and a net margin of 13.11%. The business had revenue of $221.25 million during the quarter. On average, equities research analysts anticipate that RLI Corp will post 2.3 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Murphy Pohlad Asset Management LLC purchased a new stake in shares of RLI during the fourth quarter worth approximately $27,000. Intercontinental Wealth Advisors LLC purchased a new stake in shares of RLI during the fourth quarter worth approximately $47,000. BlueMountain Capital Management LLC purchased a new stake in shares of RLI during the third quarter worth approximately $121,000. Contravisory Investment Management Inc. purchased a new stake in shares of RLI during the first quarter worth approximately $124,000. Finally, FMR LLC purchased a new stake in shares of RLI during the third quarter worth approximately $163,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

A number of analysts have recently commented on RLI shares. TheStreet upgraded RLI from a “c” rating to an “a-” rating in a research report on Thursday, April 18th. Zacks Investment Research cut RLI from a “buy” rating to a “sell” rating in a research report on Monday, April 15th. Finally, Compass Point started coverage on RLI in a research report on Tuesday, January 15th. They issued a “sell” rating and a $48.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.50.

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About 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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