RLI (NYSE:RLI) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of RLI (NYSE:RLI) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued an equal weight rating and a $62.00 target price on the insurance provider’s stock.

A number of other analysts have also recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their price objective on RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Finally, Truist Financial set a $62.00 target price on RLI and gave the stock a “hold” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $70.33.

RLI Trading Down 1.5%

RLI opened at $59.29 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.05. RLI has a 52 week low of $57.75 and a 52 week high of $81.79. The stock has a market cap of $5.45 billion, a PE ratio of 15.56 and a beta of 0.54. The business has a 50 day moving average of $63.02 and a 200-day moving average of $64.83.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, October 20th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The business had revenue of $509.26 million during the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the prior year, the company earned $1.31 earnings per share. Equities research analysts predict that RLI will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 28th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 28th. RLI’s dividend payout ratio (DPR) is presently 16.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC bought a new position in RLI in the second quarter worth approximately $221,000. Equitable Trust Co. grew its position in shares of RLI by 60.0% during the 2nd quarter. Equitable Trust Co. now owns 13,013 shares of the insurance provider’s stock valued at $940,000 after acquiring an additional 4,880 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of RLI by 228.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 140,971 shares of the insurance provider’s stock worth $10,181,000 after purchasing an additional 98,049 shares in the last quarter. AGF Management Ltd. raised its holdings in RLI by 12.4% in the 2nd quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock worth $2,885,000 after purchasing an additional 4,419 shares during the period. Finally, MGO One Seven LLC lifted its position in RLI by 732.3% during the second quarter. MGO One Seven LLC now owns 42,037 shares of the insurance provider’s stock valued at $3,036,000 after purchasing an additional 36,986 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

RLI Company Profile

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.