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

Shares of RLI Corp. (NYSE:RLI) have been given an average rating of “Hold” by the seven analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $72.80.

RLI has been the topic of a number of recent research reports. Truist Financial set a $62.00 target price on shares of RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th.

RLI Price Performance

RLI stock opened at $64.36 on Monday. The firm has a market cap of $5.91 billion, a P/E ratio of 16.89 and a beta of 0.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35. RLI has a 1 year low of $57.75 and a 1 year high of $86.05. The stock has a 50-day simple moving average of $62.19 and a 200-day simple moving average of $66.63.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.62 by $0.21. The firm had revenue of $509.26 million for the quarter, compared to analyst estimates of $444.75 million. RLI had a return on equity of 16.51% and a net margin of 19.02%.During the same period in the previous year, the company posted $1.31 EPS. On average, equities analysts predict that RLI will post 3.08 earnings per share for the current fiscal year.

RLI Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 28th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, November 28th. RLI’s payout ratio is presently 16.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new stake in RLI during the 2nd quarter valued at $221,000. Hsbc Holdings PLC increased its holdings in shares of RLI by 255.2% during the first quarter. Hsbc Holdings PLC now owns 11,321 shares of the insurance provider’s stock valued at $909,000 after purchasing an additional 8,134 shares during the period. Alaska Permanent Fund Corp increased its holdings in shares of RLI by 100.0% during the first quarter. Alaska Permanent Fund Corp now owns 41,476 shares of the insurance provider’s stock valued at $3,070,000 after purchasing an additional 20,738 shares during the period. Equitable Trust Co. raised its stake in shares of RLI by 60.0% during the second quarter. Equitable Trust Co. now owns 13,013 shares of the insurance provider’s stock valued at $940,000 after purchasing an additional 4,880 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in RLI by 111.6% in the first quarter. Inspire Investing LLC now owns 5,146 shares of the insurance provider’s stock worth $413,000 after purchasing an additional 2,714 shares during the period. Hedge funds and other institutional investors 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.