RLI (NYSE:RLI) Hits New 12-Month Low - Time to Sell?

Key Points

• RLI Corp.'s stock reached a new 52-week low of $64.59, with trading volume at 36,290 shares, and closed slightly higher at $64.94.
• Wall Street analysts have upgraded RLI's rating from "sell" to "hold," with expectations of an earnings per share (EPS) of 3.08 for the current fiscal year.
• Recent insider activity included COO Jennifer L. Klobnak purchasing 3,000 shares at an average cost of $69.15, increasing her stake in the company by 3.14%.

RLI Corp. (NYSE:RLI - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The company traded as low as $64.59 and last traded at $64.94, with a volume of 36290 shares changing hands. The stock had previously closed at $64.61.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $78.60.

RLI Stock Up 0.1%

The firm has a market cap of $5.96 billion, a P/E ratio of 18.61 and a beta of 0.65. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $67.35 and a 200-day moving average of $72.22.

RLI (NYSE:RLI - Get Free Report) last released its earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. RLI had a return on equity of 15.82% and a net margin of 17.81%.The business had revenue of $562.28 million for the quarter, compared to analyst estimates of $445.55 million. During the same quarter in the prior year, the company posted $1.72 earnings per share. RLI's revenue was up 20.0% on a year-over-year basis. On average, equities research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, August 29th. RLI's dividend payout ratio is presently 18.34%.

Insider Transactions at RLI

In other RLI news, COO Jennifer L. Klobnak acquired 3,000 shares of the company's stock in a transaction on Thursday, July 24th. The shares were purchased at an average price of $69.15 per share, for a total transaction of $207,450.00. Following the completion of the purchase, the chief operating officer directly owned 98,450 shares of the company's stock, valued at approximately $6,807,817.50. This represents a 3.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.16% of the stock is owned by corporate insiders.

Institutional Trading of RLI

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allianz Asset Management GmbH raised its stake in RLI by 2.3% in the second quarter. Allianz Asset Management GmbH now owns 7,104 shares of the insurance provider's stock valued at $513,000 after buying an additional 163 shares during the period. Signaturefd LLC raised its stake in RLI by 16.0% in the second quarter. Signaturefd LLC now owns 1,240 shares of the insurance provider's stock valued at $90,000 after buying an additional 171 shares during the period. Vista Finance LLC raised its stake in RLI by 4.0% in the second quarter. Vista Finance LLC now owns 4,655 shares of the insurance provider's stock valued at $336,000 after buying an additional 181 shares during the period. Golden State Wealth Management LLC raised its stake in RLI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock valued at $30,000 after buying an additional 186 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in RLI by 56.8% in the first quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider's stock valued at $43,000 after buying an additional 192 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.