RLI (NYSE:RLI) Reaches New 12-Month High at $155.65

RLI Corp. (NYSE:RLI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $155.65 and last traded at $155.65, with a volume of 11677 shares changing hands. The stock had previously closed at $154.98.

Analysts Set New Price Targets

Several brokerages have weighed in on RLI. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods boosted 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. Royal Bank of Canada restated a “sector perform” rating and set a $155.00 price objective on shares of RLI in a research report on Wednesday, July 24th. Jefferies Financial Group dropped their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Finally, Compass Point reduced their target price on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, RLI currently has an average rating of “Moderate Buy” and an average price target of $166.25.

RLI Trading Up 1.4 %

The firm has a market capitalization of $7.18 billion, a PE ratio of 21.65 and a beta of 0.41. The firm’s fifty day moving average price is $150.32 and its 200 day moving average price is $145.60.

RLI (NYSE:RLI) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $561.60 million. During the same period in the previous year, the company earned $1.16 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, research analysts expect that RLI Corp. will post 6.14 EPS for the current year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Friday, August 30th. RLI’s payout ratio is 16.02%.

Institutional Trading of RLI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in RLI by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 931,454 shares of the insurance provider’s stock worth $131,045,000 after purchasing an additional 24,125 shares during the last quarter. Maren Capital LLC boosted its holdings in shares of RLI by 21.3% during the 1st quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock worth $90,876,000 after buying an additional 107,655 shares during the period. Van Berkom & Associates Inc. raised its holdings in RLI by 1.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 556,764 shares of the insurance provider’s stock worth $78,331,000 after acquiring an additional 8,454 shares during the period. Bank of New York Mellon Corp lifted its position in RLI by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 428,331 shares of the insurance provider’s stock worth $60,262,000 after acquiring an additional 1,979 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in RLI by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock valued at $39,400,000 after acquiring an additional 33,435 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

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.