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

RLI Corp. (NYSE:RLI) has been assigned a consensus rating of “Hold” from the eight research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $65.20.

A number of brokerages have issued reports on RLI. Citizens Jmp reissued a “market perform” rating on shares of RLI in a report on Friday, January 23rd. Zacks Research cut shares of RLI from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research report on Friday, January 23rd. Finally, Wells Fargo & Company set a $59.00 target price on RLI and gave the company an “equal weight” rating in a research report on Friday, January 23rd.

Insider Activity

In related news, CEO Craig W. Kliethermes purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average cost of $57.45 per share, with a total value of $287,250.00. Following the purchase, the chief executive officer owned 143,990 shares of the company’s stock, valued at $8,272,225.50. This represents a 3.60% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer L. Klobnak acquired 2,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was purchased at an average price of $57.99 per share, for a total transaction of $115,980.00. Following the completion of the acquisition, the chief operating officer owned 100,318 shares in the company, valued at $5,817,440.82. The trade was a 2.03% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On RLI

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP acquired a new position in RLI in the 2nd quarter valued at $84,608,000. Norges Bank purchased a new stake in shares of RLI during the fourth quarter worth $66,997,000. Victory Capital Management Inc. raised its position in shares of RLI by 6,060.1% in the fourth quarter. Victory Capital Management Inc. now owns 739,709 shares of the insurance provider’s stock valued at $47,327,000 after buying an additional 727,701 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of RLI by 3,664.4% in the fourth quarter. Bank of Montreal Can now owns 368,384 shares of the insurance provider’s stock worth $23,569,000 after buying an additional 358,598 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in RLI by 353.1% during the third quarter. Two Sigma Investments LP now owns 446,378 shares of the insurance provider’s stock worth $29,113,000 after acquiring an additional 347,858 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

Shares of RLI opened at $62.41 on Friday. The business’s 50-day moving average is $61.05 and its two-hundred day moving average is $63.06. The company has a market capitalization of $5.74 billion, a P/E ratio of 14.31 and a beta of 0.53. RLI has a fifty-two week low of $55.80 and a fifty-two week high of $81.79.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.18. The business had revenue of $465.69 million during the quarter, compared to analysts’ expectations of $447.53 million. RLI had a return on equity of 18.67% and a net margin of 21.43%.During the same quarter in the previous year, the firm posted $0.41 EPS. Analysts forecast that RLI will post 3.08 EPS for the current year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. RLI’s dividend payout ratio is currently 14.68%.

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.