RLI’s (RLI) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of RLI (NYSE:RLI) in a report issued on Thursday,Benzinga reports.

Several other analysts also recently commented on the stock. Jefferies Financial Group boosted their target price on shares of RLI from $82.50 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Compass Point increased their target price on shares of RLI from $85.00 to $92.50 and gave the stock a “buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods reduced their price target on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Wolfe Research initiated coverage on RLI in a report on Wednesday, October 9th. They set an “outperform” rating and a $91.00 price objective on the stock. Finally, Oppenheimer initiated coverage on RLI in a report on Wednesday, October 16th. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.70.

RLI Stock Up 1.1 %

RLI stock opened at $72.52 on Thursday. The company has a 50 day moving average of $82.71 and a two-hundred day moving average of $78.77. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 19.36 and a beta of 0.47. RLI has a 12-month low of $67.04 and a 12-month high of $91.14.

RLI (NYSE:RLI) last posted its quarterly 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 return on equity of 16.38% and a net margin of 19.53%. On average, research analysts anticipate that RLI will post 3.13 EPS for the current year.

RLI Cuts Dividend

The firm also recently declared a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a $2.145 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, November 29th. RLI’s dividend payout ratio is currently 15.49%.

Insider Activity

In other RLI news, Director Michael J. Stone sold 400 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value 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 $36,421,205.05. This represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in RLI by 1.3% during the third quarter. State Street Corp now owns 4,393,250 shares of the insurance provider’s stock valued at $680,866,000 after acquiring an additional 58,167 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 50,654 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of RLI by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 813,719 shares of the insurance provider’s stock valued at $126,110,000 after purchasing an additional 4,330 shares during the period. Port Capital LLC raised its stake in shares of RLI by 0.4% in the third 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 in the last quarter. Finally, Maren Capital LLC lifted its position in RLI by 4.3% in the third quarter. Maren Capital LLC now owns 674,729 shares of the insurance provider’s stock worth $104,570,000 after purchasing an additional 27,940 shares during the period. Institutional investors own 77.89% of the company’s stock.

About RLI

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.