RLI Corp. (NYSE:RLI) Given Average Recommendation of “Hold” by Analysts

RLI Corp. (NYSE:RLI) has earned a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $78.60.

Separately, Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th.

RLI Stock Performance

Shares of RLI opened at $67.04 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.06. RLI has a 52-week low of $65.14 and a 52-week high of $91.14. The company has a 50-day simple moving average of $68.47 and a 200-day simple moving average of $72.98. The company has a market capitalization of $6.16 billion, a PE ratio of 19.21 and a beta of 0.65.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. RLI had a net margin of 17.81% and a return on equity of 15.82%. The firm had revenue of $562.28 million for the quarter, compared to the consensus estimate of $445.55 million. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. Equities research analysts predict that RLI will post 3.08 earnings per share for the current fiscal year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 29th. RLI’s payout ratio is presently 18.34%.

Insider Buying and Selling at RLI

In other news, COO Jennifer L. Klobnak purchased 3,000 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was acquired at an average price of $69.15 per share, with a total value of $207,450.00. Following the purchase, the chief operating officer directly owned 98,450 shares of the company’s stock, valued at $6,807,817.50. This represents a 3.14% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RLI

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its position in RLI by 212.8% during the fourth quarter. Jane Street Group LLC now owns 18,579 shares of the insurance provider’s stock worth $3,062,000 after acquiring an additional 12,639 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of RLI during the 4th quarter worth approximately $254,000. Deutsche Bank AG raised its position in shares of RLI by 138.0% during the 4th quarter. Deutsche Bank AG now owns 8,858 shares of the insurance provider’s stock worth $1,460,000 after purchasing an additional 5,136 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in RLI by 50.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 21,702 shares of the insurance provider’s stock valued at $3,577,000 after buying an additional 7,323 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in RLI by 40.8% during the 4th quarter. Gotham Asset Management LLC now owns 67,564 shares of the insurance provider’s stock valued at $11,137,000 after buying an additional 19,565 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

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.