RLI Corp. (NYSE:RLI) Given Average Rating of “Hold” by Analysts

Shares of RLI Corp. (NYSE:RLI) have received a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $78.60.

A number of research firms have commented on RLI. Keefe, Bruyette & Woods reduced their target price on RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $95.00 to $61.00 in a research report on Monday, January 27th. Royal Bank of Canada dropped their price target on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Compass Point cut shares of RLI from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a report on Thursday, April 24th.

Insider Buying and Selling at RLI

In other RLI news, Director Jordan W. Graham sold 1,500 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total value of $112,155.00. Following the completion of the sale, the director now owns 12,854 shares in the company, valued at $961,093.58. This represents a 10.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of RLI stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $74.89, for a total value of $214,484.96. Following the transaction, the director now directly owns 23,312 shares in the company, valued at approximately $1,745,835.68. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RLI

A number of hedge funds have recently modified their holdings of RLI. Golden State Wealth Management LLC raised its stake in RLI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 186 shares during the period. Versant Capital Management Inc grew its holdings in RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in RLI by 88.5% during the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider’s stock valued at $38,000 after buying an additional 224 shares in the last quarter. Compass Wealth Management LLC raised its position in shares of RLI by 100.0% during the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider’s stock valued at $39,000 after buying an additional 240 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of RLI by 56.8% in the first quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider’s stock worth $43,000 after buying an additional 192 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Up 1.8 %

Shares of NYSE:RLI opened at $74.53 on Friday. RLI has a 1 year low of $68.50 and a 1 year high of $91.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38. The stock’s 50-day moving average is $76.30 and its 200 day moving average is $79.18. The company has a market cap of $6.84 billion, a PE ratio of 19.90 and a beta of 0.49.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.04. RLI had a return on equity of 16.63% and a net margin of 19.53%. The business had revenue of $36.73 million for the quarter, compared to analysts’ expectations of $442.20 million. During the same period in the previous year, the firm posted $0.95 EPS. The business’s revenue was down 8.3% on a year-over-year basis. Sell-side analysts anticipate that RLI will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.81%. This is a positive change from RLI’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 28th. RLI’s payout ratio is 19.74%.

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.