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

Shares of RLI Corp. (NYSE:RLIGet Free Report) have been given an average rating of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $165.75.

RLI has been the topic of several research analyst reports. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Tuesday, April 23rd. Compass Point boosted their price target on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Royal Bank of Canada raised their price objective on shares of RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group dropped their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 target price on shares of RLI in a report on Friday, June 21st.

Check Out Our Latest Research Report on RLI

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RLI. JPMorgan Chase & Co. lifted its position in shares of RLI by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after acquiring an additional 11,965 shares in the last quarter. Maren Capital LLC boosted its position in shares of RLI by 21.3% in the first quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock worth $90,876,000 after buying an additional 107,655 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of RLI by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock valued at $54,817,000 after buying an additional 11,255 shares in the last quarter. Norges Bank acquired a new position in RLI during the fourth quarter valued at $52,592,000. Finally, American Century Companies Inc. lifted its stake in RLI by 2.2% in the 3rd quarter. American Century Companies Inc. now owns 320,540 shares of the insurance provider’s stock worth $43,558,000 after acquiring an additional 6,896 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Stock Up 0.8 %

RLI stock opened at $140.43 on Monday. The company has a 50-day simple moving average of $142.73 and a 200 day simple moving average of $142.24. The company has a market capitalization of $6.42 billion, a P/E ratio of 19.40 and a beta of 0.41. RLI has a fifty-two week low of $125.77 and a fifty-two week high of $149.20.

RLI (NYSE:RLIGet Free Report) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. RLI had a net margin of 20.96% and a return on equity of 17.24%. The company had revenue of $444.80 million during the quarter, compared to analyst estimates of $460.05 million. During the same period in the prior year, the business posted $1.63 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities analysts anticipate that RLI will post 5.85 EPS for the current year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 31st. This is a positive change from RLI’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 0.83%. RLI’s dividend payout ratio is currently 16.02%.

RLI Company Profile

(Get Free Report

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.

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Analyst Recommendations for RLI (NYSE:RLI)

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