RLI Corp. (NYSE:RLI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of RLI Corp. (NYSE:RLI) have been assigned an average rating of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $166.25.

Several research analysts have recently commented on RLI shares. Jefferies Financial Group decreased their price target on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, June 14th. Keefe, Bruyette & Woods upped their target price on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Compass Point dropped their price target on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada restated a “sector perform” rating and set a $155.00 price objective on shares of RLI in a research note on Wednesday, July 24th. Finally, JMP Securities reissued a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Commerce Bank lifted its holdings in RLI by 1.7% in the fourth quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock worth $588,000 after purchasing an additional 75 shares during the period. EverSource Wealth Advisors LLC raised its position 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 buying an additional 77 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of RLI by 5.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock valued at $230,000 after acquiring an additional 89 shares in the last quarter. Inspire Investing LLC increased its stake in shares of RLI by 3.8% during the second quarter. Inspire Investing LLC now owns 2,502 shares of the insurance provider’s stock valued at $352,000 after acquiring an additional 92 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of RLI by 3.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock valued at $434,000 after acquiring an additional 99 shares during the period. Institutional investors own 77.89% of the company’s stock.

RLI Stock Up 0.2 %

Shares of RLI stock opened at $154.01 on Friday. The business has a 50-day moving average price of $149.72 and a 200 day moving average price of $145.52. RLI has a fifty-two week low of $125.77 and a fifty-two week high of $155.59. The firm has a market cap of $7.05 billion, a P/E ratio of 21.27 and a beta of 0.41.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.37. The business had revenue of $416.44 million for the quarter, compared to analyst estimates of $561.60 million. RLI had a return on equity of 18.33% and a net margin of 20.78%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. As a group, equities research analysts anticipate that RLI will post 6.14 earnings per share for the current year.

RLI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, August 30th. RLI’s payout ratio is currently 16.02%.

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.