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

RLI Corp. (NYSE:RLI) has been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $91.20.

Several analysts recently issued reports on RLI shares. Jefferies Financial Group increased their target price on RLI from $82.50 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Oppenheimer initiated coverage on shares of RLI in a report on Wednesday, October 16th. They set a “market perform” rating for the company. Wolfe Research began coverage on shares of RLI in a report on Wednesday, October 9th. They issued an “outperform” rating and a $91.00 target price on the stock. Keefe, Bruyette & Woods dropped their target price on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Royal Bank of Canada lifted their price target on shares of RLI from $81.00 to $82.50 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd.

Insider Buying and Selling at RLI

In other news, Director Michael J. Stone sold 400 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total transaction of $33,910.00. Following the completion of the sale, the director now directly owns 429,622 shares of the company’s stock, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of RLI by 1.3% during the 3rd quarter. State Street Corp now owns 4,393,250 shares of the insurance provider’s stock worth $680,866,000 after buying an additional 58,167 shares in the last quarter. Geode Capital Management LLC grew its holdings in RLI by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider’s stock worth $140,817,000 after acquiring an additional 50,654 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in RLI by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 813,719 shares of the insurance provider’s stock worth $126,110,000 after acquiring an additional 4,330 shares in the last quarter. Port Capital LLC increased its position in RLI by 0.4% during the 3rd quarter. Port Capital LLC now owns 759,988 shares of the insurance provider’s stock valued at $117,783,000 after purchasing an additional 3,200 shares during the period. Finally, Maren Capital LLC raised its holdings in shares of RLI by 4.3% in the 3rd quarter. Maren Capital LLC now owns 674,729 shares of the insurance provider’s stock valued at $104,570,000 after purchasing an additional 27,940 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Price Performance

Shares of NYSE:RLI opened at $71.86 on Friday. The company has a market capitalization of $6.59 billion, a P/E ratio of 15.79 and a beta of 0.47. RLI has a 1-year low of $67.04 and a 1-year high of $91.14. The firm’s 50 day simple moving average is $83.32 and its two-hundred day simple moving average is $78.80.

RLI (NYSE:RLI) last released its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a net margin of 23.77% and a return on equity of 19.03%. On average, sell-side analysts anticipate that RLI will post 2.93 earnings per share for the current fiscal year.

RLI Cuts Dividend

The business also recently announced a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a dividend of $2.145 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, November 29th. RLI’s dividend payout ratio is currently 12.75%.

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.