Brokerages Set RLI Corp. (NYSE:RLI) PT at $163.25

Shares of RLI Corp. (NYSE:RLI) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two 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 analysts that have issued ratings on the stock in the last year is $163.25.

A number of research analysts have issued reports on RLI shares. Keefe, Bruyette & Woods raised their price target on shares of RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Compass Point increased their price objective on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada increased their price objective on shares of RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, JMP Securities reiterated a “market perform” rating on shares of RLI in a research note on Tuesday.

RLI Trading Down 1.7 %

NYSE RLI opened at $144.15 on Wednesday. The company has a fifty day simple moving average of $144.77 and a two-hundred day simple moving average of $139.01. The stock has a market cap of $6.59 billion, a P/E ratio of 19.91 and a beta of 0.37. RLI has a 12-month low of $123.04 and a 12-month high of $149.20. The company has a current ratio of 0.39, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The business had revenue of $444.80 million during the quarter, compared to analysts’ expectations of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the company posted $1.63 earnings per share. On average, analysts forecast that RLI will post 5.64 earnings per share for the current year.

RLI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 annualized dividend and a yield of 0.75%. RLI’s dividend payout ratio is presently 14.92%.

Institutional Trading of RLI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in RLI by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after purchasing an additional 11,965 shares in the last quarter. Van Berkom & Associates Inc. lifted its holdings in RLI by 18.1% during the third quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock valued at $71,570,000 after purchasing an additional 80,552 shares in the last quarter. Maren Capital LLC purchased a new position in RLI during the fourth quarter valued at $67,149,000. Charles Schwab Investment Management Inc. lifted its holdings in RLI by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock valued at $54,817,000 after purchasing an additional 11,255 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of RLI by 0.9% in the third quarter. Northern Trust Corp now owns 395,547 shares of the insurance provider’s stock worth $53,751,000 after buying an additional 3,562 shares in the last quarter. Institutional investors and hedge funds 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.