RLI Corp. (NYSE:RLI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of RLI Corp. (NYSE:RLI) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $173.80.

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $162.00 price objective on shares of RLI in a research report on Tuesday, October 8th. JMP Securities reissued a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Oppenheimer initiated coverage on RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating for the company. Finally, Jefferies Financial Group lifted their price target on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th.

RLI Stock Performance

RLI stock opened at $162.99 on Wednesday. RLI has a 52 week low of $125.77 and a 52 week high of $164.25. The firm has a market capitalization of $7.45 billion, a PE ratio of 22.51 and a beta of 0.41. The business’s 50-day simple moving average is $153.60 and its 200-day simple moving average is $146.74.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The company had revenue of $416.44 million for the quarter, compared to the consensus estimate of $561.60 million. During the same period in the previous year, the business posted $1.16 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts forecast that RLI will post 6.14 earnings per share for the current year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, August 30th. RLI’s dividend payout ratio is 16.02%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. increased its position in shares of RLI by 620.0% during the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 155 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of RLI during the third quarter worth approximately $32,000. EverSource Wealth Advisors LLC increased its holdings in shares of RLI by 45.6% during the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after buying an additional 77 shares in the last quarter. American National Bank bought a new position in shares of RLI in the second quarter valued at approximately $35,000. Finally, Riverview Trust Co acquired a new position in shares of RLI in the 1st quarter worth approximately $44,000. 77.89% of the stock is 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.