RLI (NYSE:RLI) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of RLI Corp. (NYSE:RLI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $150.10 and traded as high as $175.04. RLI shares last traded at $174.76, with a volume of 134,248 shares.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RLI. Keefe, Bruyette & Woods boosted their price target on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Jefferies Financial Group raised their price target on shares of RLI from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Compass Point boosted their price objective on RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada raised their price target on RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Three investment 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $177.40.

RLI Price Performance

The company’s 50-day moving average price is $159.19 and its 200-day moving average price is $150.10. The company has a market cap of $8.01 billion, a P/E ratio of 19.20 and a beta of 0.41.

Shares of RLI are going to split on the morning of Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, January 15th.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.33. The company had revenue of $470.00 million for the quarter, compared to analyst estimates of $491.54 million. RLI had a return on equity of 19.03% and a net margin of 23.77%. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. On average, equities research analysts predict that RLI Corp. will post 5.85 EPS for the current year.

RLI Increases Dividend

The firm also recently declared a None dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a dividend of $4.29 per share. This is a boost from RLI’s previous None dividend of $2.25. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, November 29th. RLI’s dividend payout ratio (DPR) is currently 12.75%.

Institutional Trading of RLI

A number of institutional investors have recently made changes to their positions in the business. Coldstream Capital Management Inc. increased its stake in RLI by 4.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 13,649 shares of the insurance provider’s stock valued at $2,116,000 after buying an additional 571 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of RLI by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider’s stock valued at $140,817,000 after acquiring an additional 50,654 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of RLI by 76.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. National Bank of Canada FI raised its holdings in RLI by 5.8% during the third quarter. National Bank of Canada FI now owns 17,051 shares of the insurance provider’s stock worth $2,643,000 after acquiring an additional 936 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in RLI during the third quarter valued at approximately $9,458,000. 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.