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

RLI Corp. (NYSE:RLI) shares are going to split on the morning of Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, January 15th.

RLI Stock Down 3.1 %

NYSE RLI opened at $156.32 on Wednesday. The firm has a market cap of $7.16 billion, a P/E ratio of 17.18 and a beta of 0.47. RLI has a 52-week low of $132.30 and a 52-week high of $182.29. The business’s 50-day moving average price is $169.18 and its 200 day moving average price is $156.53.

RLI (NYSE:RLI) last announced its earnings results 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 return on equity of 19.03% and a net margin of 23.77%. The company had revenue of $470.00 million for the quarter, compared to the consensus estimate of $491.54 million. During the same period last year, the business posted $0.61 EPS. The company’s revenue was up 41.7% on a year-over-year basis. As a group, analysts anticipate that RLI will post 5.85 earnings per share for the current year.

RLI Increases Dividend

The company also recently announced a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were paid a $4.29 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, November 29th. This is a boost from RLI’s previous None dividend of $2.25. RLI’s dividend payout ratio (DPR) is 12.75%.

Analyst Ratings Changes

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

Insider Buying and Selling at RLI

In other news, Director Michael J. Stone sold 200 shares of the business’s 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 completion of the transaction, the director now directly owns 214,811 shares of the company’s stock, valued at $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in shares of 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 buying an additional 155 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in RLI during the third quarter worth approximately $32,000. Versant Capital Management Inc grew its stake in RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 71 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in 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 acquiring an additional 100 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

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.