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

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

RLI Trading Down 0.3 %

NYSE:RLI opened at $162.64 on Friday. The firm has a market capitalization of $7.45 billion, a PE ratio of 17.87 and a beta of 0.47. RLI has a 52 week low of $132.30 and a 52 week high of $182.29. The stock has a 50 day moving average of $169.08 and a 200-day moving average of $156.19.

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

RLI Increases Dividend

The company also recently disclosed a None dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were issued 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%.

Analysts Set New Price Targets

Several research analysts have commented on RLI shares. Jefferies Financial Group upped their target price on shares of RLI from $165.00 to $180.00 and gave the stock 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 for the company. Royal Bank of Canada raised their target price on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Compass Point boosted their price target on RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Oppenheimer assumed coverage on RLI in a report on Wednesday, October 16th. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.40.

Insider Activity

In other RLI news, Director Michael J. Stone sold 200 shares of the company’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 transaction, the director now owns 214,811 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.09% of the company’s stock.

Hedge Funds Weigh In On RLI

A number of hedge funds have recently modified their holdings of RLI. GAMMA Investing LLC increased its stake in RLI by 31.8% in the 4th quarter. GAMMA Investing LLC now owns 1,035 shares of the insurance provider’s stock worth $171,000 after purchasing an additional 250 shares in the last quarter. Versant Capital Management Inc increased its position in shares of RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 71 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of RLI by 3.9% during the third quarter. Retirement Systems of Alabama now owns 115,569 shares of the insurance provider’s stock valued at $17,911,000 after acquiring an additional 4,322 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of RLI in the 3rd quarter valued at approximately $1,193,000. Finally, Sanctuary Advisors LLC lifted its position in shares of RLI by 12.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,034 shares of the insurance provider’s stock valued at $935,000 after acquiring an additional 691 shares in the last quarter. 77.89% of the stock is currently 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.