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

Shares of RLI Corp. (NYSE:RLI) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $163.25.

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Compass Point lifted their target price on RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada raised their price objective on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 24th. Finally, JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, April 23rd.

RLI Price Performance

Shares of NYSE:RLI opened at $144.98 on Friday. The company has a market capitalization of $6.63 billion, a P/E ratio of 20.02 and a beta of 0.37. The business’s 50 day simple moving average is $144.54 and its 200 day simple moving average is $140.45. RLI has a 1 year low of $123.04 and a 1 year high of $149.20.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. RLI had a net margin of 20.96% and a return on equity of 17.24%. The business had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. During the same quarter last year, the business posted $1.63 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, sell-side analysts anticipate that RLI will post 5.84 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, May 31st will be paid a $0.29 dividend. This is an increase from RLI’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.16 annualized dividend and a yield of 0.80%. RLI’s dividend payout ratio is presently 16.02%.

Institutional Investors Weigh In On RLI

Several institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. grew its holdings in RLI by 25.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,908 shares of the insurance provider’s stock valued at $259,000 after buying an additional 383 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in RLI by 237.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider’s stock valued at $30,864,000 after acquiring an additional 146,324 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in RLI by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock worth $39,400,000 after acquiring an additional 33,435 shares during the period. Lazard Asset Management LLC purchased a new stake in RLI in the 1st quarter worth approximately $130,000. Finally, PEAK6 Investments LLC boosted its holdings in RLI by 127.0% in the 1st quarter. PEAK6 Investments LLC now owns 2,733 shares of the insurance provider’s stock valued at $406,000 after purchasing an additional 1,529 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

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.