Intel stock spikes after report of possible US government stake
Robert P. Restrepo Jr., a director at RLI Corp (NYSE:RLI), recently sold 2,864 shares of the company’s common stock. The transaction, which took place on March 13, 2025, was executed at a price of $74.89 per share, amounting to a total value of $214,484. The insurance company, currently valued at approximately $6.9 billion, maintains a "GOOD" financial health rating according to InvestingPro analysis.
Following this sale, Restrepo’s direct ownership in RLI Corp stands at 23,312 shares. This adjustment reflects a 2-for-1 stock split that occurred on January 15, 2025. The filing was signed by Jeffrey D. Fick, Attorney-in-Fact, on March 14, 2025. RLI Corp has demonstrated strong financial performance, maintaining dividend payments for 50 consecutive years, with analyst price targets ranging from $61 to $95 per share. For comprehensive analysis and additional insights, including 8 more key ProTips, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, RLI Corp reported its fourth-quarter 2024 financial results, revealing a significant miss in earnings and revenue expectations. The company announced operating earnings of $0.41 per share, falling short of the anticipated $1.02 per share, while revenue reached $439.12 million, below the forecasted $464.46 million. Despite this, RLI Corp maintained a 13% increase in full-year net earnings, reaching $3.74 per share, and marked its 29th consecutive year of underwriting profit. Gross premiums rose by 9% in the fourth quarter, demonstrating continued strength in its insurance segments.
Analysts from firms such as Oppenheimer and Raymond (NSE:RYMD) James have inquired about the company’s reserve additions in the transportation and personal umbrella segments, highlighting ongoing challenges in auto severity impacting profitability. The company plans to focus on rate increases in auto-related lines and sees potential for organic growth in specialty insurance markets. Additionally, RLI Corp’s book value per share increased by 24% from the previous year, reaching $16.59.
The company also addressed its investment strategy, including its stake in Prime, which has been a positive investment despite some recent losses. Looking ahead, RLI Corp expects to maintain its underwriting profitability, with projected earnings per share for 2025 set at $3.10. The company continues to navigate challenges such as increasing competition in the E&S property market and potential volatility in the reinsurance market.
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