RLI Corp. (NYSE:RLI – Get Free Report) has been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $166.25.
A number of brokerages recently issued reports on RLI. Jefferies Financial Group lowered their price target on RLI from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, June 14th. Compass Point dropped their price target on RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. JMP Securities restated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their price target on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $155.00 target price on shares of RLI in a report on Wednesday, July 24th.
Read Our Latest Stock Report on RLI
Hedge Funds Weigh In On RLI
RLI Price Performance
Shares of NYSE RLI opened at $152.66 on Friday. The company has a market cap of $6.98 billion, a P/E ratio of 21.09 and a beta of 0.41. The firm has a 50-day simple moving average of $148.86 and a two-hundred day simple moving average of $145.35. RLI has a 1 year low of $125.77 and a 1 year high of $155.59.
RLI (NYSE:RLI – Get Free Report) last released its earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share 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 business had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. During the same period last year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts expect that RLI will post 6.14 EPS for the current year.
RLI Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a dividend of $0.29 per share. The ex-dividend date was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.76%. RLI’s payout ratio is 16.02%.
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.
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