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

Shares of RLI Corp. (NYSE:RLI) have earned an average rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $173.80.

Several equities research analysts have issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $162.00 price target on shares of RLI in a research note on Tuesday, October 8th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Wolfe Research started coverage on shares of RLI in a research note on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price target on the stock. Compass Point cut their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. increased its stake in shares of RLI by 620.0% during the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after buying an additional 155 shares during the period. American National Bank bought a new position in RLI in the 2nd quarter worth $35,000. EverSource Wealth Advisors LLC lifted its position in shares of RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 77 shares during the period. Riverview Trust Co bought a new stake in shares of RLI during the 1st quarter valued at about $44,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of RLI by 468.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock valued at $46,000 after buying an additional 253 shares during the period. Institutional investors own 77.89% of the company’s stock.

RLI Trading Up 0.3 %

Shares of NYSE RLI opened at $160.23 on Wednesday. The business has a 50-day moving average of $152.61 and a 200-day moving average of $146.40. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 21.86 and a beta of 0.41. RLI has a 12 month low of $125.77 and a 12 month high of $162.72.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.33%. The firm had revenue of $416.44 million for the quarter, compared to analyst estimates of $561.60 million. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts predict that RLI will post 6.14 earnings per share for the current year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Friday, August 30th. RLI’s payout ratio is 15.83%.

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.