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

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

RLI Price Performance

Shares of RLI opened at $164.77 on Tuesday. RLI has a 1-year low of $132.30 and a 1-year high of $182.29. The company has a market capitalization of $7.55 billion, a P/E ratio of 18.11 and a beta of 0.46. The firm’s 50 day simple moving average is $168.63 and its 200 day simple moving average is $155.75.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.31 earnings per share 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 analysts’ expectations of $491.54 million. During the same quarter last year, the company posted $0.61 EPS. The business’s quarterly revenue was up 41.7% on a year-over-year basis. On average, equities analysts anticipate that RLI will post 5.85 earnings per share for the current year.

RLI Increases Dividend

The company 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 boost from RLI’s previous None dividend of $2.25. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, November 29th. RLI’s dividend payout ratio is presently 12.75%.

Analysts Set New Price Targets

RLI has been the topic of several research reports. Wolfe Research started coverage on shares of RLI in a research note on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price target on the stock. Jefferies Financial Group boosted their price target on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Compass Point raised their price objective on RLI from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their target price on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, Oppenheimer assumed coverage on RLI in a report on Wednesday, October 16th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $177.40.

Insider Buying and Selling

In other RLI news, Director Michael J. Stone sold 200 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $169.55, for a total transaction of $33,910.00. Following the transaction, the director now directly owns 214,811 shares of the company’s stock, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.09% of the stock is owned by insiders.

Institutional Investors Weigh In On RLI

Large investors have recently modified their holdings of the stock. UMB Bank n.a. lifted its holdings in RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after buying an additional 155 shares during the period. V Square Quantitative Management LLC bought a new position in shares of RLI in the 3rd quarter worth approximately $32,000. Nomura Asset Management Co. Ltd. lifted its stake 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 purchasing an additional 100 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of RLI by 45.6% during the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares in the last quarter. Finally, American National Bank & Trust grew its stake in RLI by 62.5% in the third quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 155 shares during the period. Institutional investors own 77.89% of the company’s stock.

About RLI

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.