RLI Corp. (NYSE:RLI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of RLI Corp. (NYSE:RLI) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $166.25.

RLI has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Jefferies Financial Group cut their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $155.00 target price on shares of RLI in a research note on Wednesday, July 24th. Finally, Compass Point cut their target price 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.

Institutional Trading of RLI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its holdings in RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares during the period. American National Bank purchased a new stake in shares of RLI during the 2nd quarter worth about $35,000. Riverview Trust Co purchased a new stake in shares of RLI during the 1st quarter worth about $44,000. Intelligent Financial Strategies purchased a new stake in shares of RLI during the 1st quarter worth about $45,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of RLI by 468.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 253 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Down 0.4 %

NYSE:RLI opened at $152.69 on Friday. The company has a market capitalization of $6.99 billion, a PE ratio of 21.09 and a beta of 0.41. RLI has a 52-week low of $125.77 and a 52-week high of $155.59. The stock has a fifty day simple moving average of $149.50 and a 200-day simple moving average of $145.47.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.37. The business had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. RLI had a return on equity of 18.33% and a net margin of 20.78%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, equities analysts anticipate that RLI will post 6.14 earnings per share for the current year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.76%. The ex-dividend date was Friday, August 30th. RLI’s dividend payout ratio (DPR) is 16.02%.

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.