RLI Corp. (NYSE:RLI) Receives Consensus Rating of “Hold” from Brokerages

RLI Corp. (NYSE:RLI) has received an average rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $82.80.

A number of equities analysts have recently weighed in on the company. StockNews.com raised RLI from a “sell” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $95.00 to $61.00 in a research report on Monday, January 27th. Compass Point lowered their target price on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada lowered their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th.

Insider Activity at RLI

In other RLI news, Director Michael E. Angelina bought 2,200 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was purchased at an average cost of $72.62 per share, with a total value of $159,764.00. Following the transaction, the director now directly owns 23,514 shares in the company, valued at $1,707,586.68. This trade represents a 10.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Stone sold 400 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the sale, the director now directly owns 429,622 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 disclosure for this sale can be found here. In the last three months, insiders purchased 11,200 shares of company stock valued at $805,774. 5.09% of the stock is owned by insiders.

Institutional Investors Weigh In On RLI

Several large investors have recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new stake in RLI in the 4th quarter worth about $31,000. V Square Quantitative Management LLC purchased a new stake in RLI in the 3rd quarter worth about $32,000. Versant Capital Management Inc increased its holdings in RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in RLI in the 4th quarter worth about $56,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Price Performance

Shares of RLI opened at $74.59 on Tuesday. RLI has a 52-week low of $67.53 and a 52-week high of $91.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. The business’s 50 day moving average price is $77.81 and its two-hundred day moving average price is $79.20. The firm has a market cap of $6.84 billion, a PE ratio of 19.92 and a beta of 0.46.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a return on equity of 16.63% and a net margin of 19.53%. On average, equities analysts anticipate that RLI will post 3.08 EPS for the current year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be given a $0.15 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, February 28th. RLI’s dividend payout ratio is presently 15.49%.

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.