RLI (NYSE:RLI) Given Market Perform Rating at JMP Securities

JMP Securities reissued their market perform rating on shares of RLI (NYSE:RLI) in a research note issued to investors on Tuesday, Benzinga reports.

RLI has been the topic of several other reports. Royal Bank of Canada reiterated a sector perform rating and set a $148.00 price target on shares of RLI in a research report on Friday, January 26th. Keefe, Bruyette & Woods lifted their price target on RLI from $160.00 to $168.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, RLI presently has a consensus rating of Hold and a consensus target price of $160.25.

RLI Stock Up 3.2 %

RLI opened at $145.76 on Tuesday. RLI has a 12 month low of $123.04 and a 12 month high of $149.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market cap of $6.66 billion, a P/E ratio of 22.02 and a beta of 0.37. The stock’s 50 day moving average price is $144.54 and its 200 day moving average price is $138.85.

RLI (NYSE:RLI) last posted its earnings results on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. RLI had a return on equity of 17.02% and a net margin of 20.15%. The firm had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $460.05 million. During the same period last year, the firm earned $1.63 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. As a group, research analysts predict that RLI will post 5.56 earnings per share for the current year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Wednesday, February 28th. RLI’s dividend payout ratio is presently 16.31%.

Institutional Investors Weigh In On RLI

Several large investors have recently modified their holdings of RLI. Blue Trust Inc. bought a new stake in shares of RLI during the 4th quarter worth $25,000. Gladius Capital Management LP boosted its stake in shares of RLI by 129.7% during the 3rd quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 153 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of RLI in the fourth quarter worth $41,000. Riverview Trust Co acquired a new stake in shares of RLI in the first quarter worth $44,000. Finally, Quantbot Technologies LP acquired a new stake in shares of RLI in the third quarter worth $60,000. 77.89% of the stock is owned by 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.