RLI Corp. (NYSE:RLI) Receives Average Recommendation of “Hold” from Brokerages

Shares of RLI Corp. (NYSE:RLI) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $78.60.

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their target price on shares of RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Thursday, April 24th. Finally, Compass Point cut shares of RLI from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th.

RLI Price Performance

Shares of NYSE:RLI opened at $70.30 on Friday. The company’s fifty day moving average price is $73.30 and its 200-day moving average price is $75.20. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 23.13 and a beta of 0.67. RLI has a one year low of $69.16 and a one year high of $91.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35.

RLI (NYSE:RLI) last released its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. RLI had a net margin of 16.22% and a return on equity of 16.26%. The company had revenue of $36.73 million for the quarter, compared to analyst estimates of $442.20 million. During the same quarter last year, the firm earned $0.95 EPS. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that RLI will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, May 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 30th. This is a boost from RLI’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.91%. RLI’s payout ratio is 21.05%.

Institutional Trading of RLI

A number of large investors have recently made changes to their positions in RLI. Signaturefd LLC grew its holdings in RLI by 16.0% during the second quarter. Signaturefd LLC now owns 1,240 shares of the insurance provider’s stock valued at $90,000 after purchasing an additional 171 shares during the period. Golden State Wealth Management LLC lifted its position in shares of 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 buying an additional 186 shares in the last quarter. Alpha DNA Investment Management LLC lifted its position in shares of RLI by 7.8% during the 4th quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider’s stock valued at $432,000 after buying an additional 189 shares in the last quarter. SBI Securities Co. Ltd. boosted its position 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 purchasing an additional 192 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of RLI by 1.2% in the fourth quarter. Corient Private Wealth LLC now owns 17,265 shares of the insurance provider’s stock worth $2,846,000 after purchasing an additional 197 shares during the period. 77.89% of the stock is currently owned by institutional investors.

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.