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

RLI Corp. (NYSE:RLI) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat.com 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 1-year price target among analysts that have updated their coverage on the stock in the last year is $65.20.

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Jefferies Financial Group raised RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective on the stock in a research note on Friday, January 23rd. Truist Financial set a $58.00 target price on RLI in a report on Friday, January 23rd. Wells Fargo & Company set a $59.00 target price on RLI and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Finally, Zacks Research downgraded shares of RLI from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th.

RLI Stock Up 0.5%

NYSE:RLI opened at $57.93 on Wednesday. The firm has a market cap of $5.33 billion, a PE ratio of 13.29 and a beta of 0.50. RLI has a 12 month low of $55.80 and a 12 month high of $81.79. The company’s 50-day moving average price is $60.30 and its two-hundred day moving average price is $62.17.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.18. RLI had a net margin of 21.43% and a return on equity of 18.67%. The company had revenue of $465.69 million during the quarter, compared to analyst estimates of $447.53 million. During the same quarter last year, the business posted $0.41 earnings per share. On average, research analysts expect that RLI will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.1%. RLI’s payout ratio is currently 14.68%.

Insider Buying and Selling

In related news, CEO Craig W. Kliethermes bought 5,000 shares of RLI stock in a transaction dated Friday, January 23rd. The shares were bought at an average cost of $57.45 per share, for a total transaction of $287,250.00. Following the completion of the transaction, the chief executive officer owned 143,990 shares of the company’s stock, valued at approximately $8,272,225.50. This trade represents a 3.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Jennifer L. Klobnak purchased 2,000 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were bought at an average cost of $57.99 per share, for a total transaction of $115,980.00. Following the completion of the purchase, the chief operating officer directly owned 100,318 shares of the company’s stock, valued at $5,817,440.82. The trade was a 2.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RLI

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quent Capital LLC bought a new position in RLI during the third quarter worth about $26,000. Farther Finance Advisors LLC grew its position in shares of RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after buying an additional 201 shares during the period. Clarity Asset Management Inc. bought a new stake in shares of RLI in the 2nd quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. raised its position in shares of RLI by 156.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 283 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of RLI by 72.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 259 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

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.