RLI (NYSE:RLI) Receives Market Perform Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of RLI (NYSE:RLI) in a research note released on Tuesday, Benzinga reports.

A number of other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on RLI from $160.00 to $168.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Royal Bank of Canada restated a sector perform rating and issued a $148.00 target price on shares of RLI in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $163.25.

RLI Stock Down 1.7 %

Shares of RLI stock opened at $144.15 on Tuesday. RLI has a 1 year low of $123.04 and a 1 year high of $149.20. The stock has a market cap of $6.59 billion, a PE ratio of 19.91 and a beta of 0.37. The business’s fifty day moving average is $144.77 and its 200-day moving average is $139.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.39.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.26. The company had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the firm earned $1.63 EPS. Equities analysts expect that RLI will post 5.64 earnings per share for the current fiscal year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.75%. RLI’s dividend payout ratio is 14.92%.

Institutional Trading of RLI

A number of institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its position in shares of RLI by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the insurance provider’s stock worth $1,722,000 after buying an additional 300 shares during the last quarter. Wesbanco Bank Inc. acquired a new stake in shares of RLI in the first quarter worth about $375,000. Norden Group LLC acquired a new stake in shares of RLI in the first quarter worth about $200,000. State of Michigan Retirement System lifted its position in shares of RLI by 2.1% in the first quarter. State of Michigan Retirement System now owns 9,816 shares of the insurance provider’s stock worth $1,457,000 after buying an additional 200 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of RLI in the first quarter worth about $468,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

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.