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

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

RLI Price Performance

Shares of RLI stock opened at $149.77 on Friday. The stock has a market cap of $6.86 billion, a PE ratio of 16.46 and a beta of 0.47. The firm has a fifty day moving average price of $168.91 and a 200 day moving average price of $156.74. RLI has a 1 year low of $134.07 and a 1 year high of $182.29.

RLI (NYSE:RLI) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.33. The company had revenue of $470.00 million for the quarter, compared to the consensus estimate of $491.54 million. RLI had a return on equity of 19.03% and a net margin of 23.77%. The firm’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. As a group, equities analysts expect that RLI will post 5.85 EPS for the current year.

RLI Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on RLI shares. Royal Bank of Canada lifted their target price on shares of RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods cut their price objective on shares of RLI from $201.00 to $200.00 and set an “outperform” rating for the company in a report on Friday. Jefferies Financial Group increased their target price 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. Oppenheimer assumed coverage on RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating for the company. Finally, Wolfe Research started coverage on RLI in a report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.40.

Insider Transactions at RLI

In other RLI news, Director Michael J. Stone sold 200 shares of RLI 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 sale, the director now owns 214,811 shares of the company’s stock, valued at $36,421,205.05. The trade was a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.09% of the company’s stock.

Hedge Funds Weigh In On RLI

Several hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. boosted 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 buying an additional 155 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of RLI during the 3rd quarter valued at about $32,000. Versant Capital Management Inc grew its holdings 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 valued at $33,000 after purchasing an additional 71 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of RLI by 76.9% in the third 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. Finally, EverSource Wealth Advisors LLC increased its position in RLI by 45.6% during the second 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 last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

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.