RLI Corp. (NYSE:RLI) Receives Average Rating of “Moderate Buy” from Brokerages

RLI Corp. (NYSE:RLIGet Free Report) has received an average rating of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment 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 brokers that have updated their coverage on the stock in the last year is $165.75.

A number of research analysts recently weighed in on the stock. Compass Point raised their target price on shares of RLI from $158.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Royal Bank of Canada lifted 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. Finally, Jefferies Financial Group decreased their price objective on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, June 14th.

Read Our Latest Research Report on RLI

Institutional Trading of RLI

Several hedge funds and other institutional investors have recently modified their holdings of RLI. Maren Capital LLC bought a new stake in shares of RLI during the 4th quarter worth about $67,149,000. Norges Bank acquired a new stake in RLI in the 4th quarter worth about $52,592,000. Jacobs Levy Equity Management Inc. raised its stake in RLI by 237.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider’s stock worth $30,864,000 after purchasing an additional 146,324 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in RLI by 39.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 400,532 shares of the insurance provider’s stock worth $54,428,000 after purchasing an additional 112,988 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in RLI by 65.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 203,046 shares of the insurance provider’s stock worth $27,029,000 after purchasing an additional 80,451 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

RLI Trading Up 0.0 %

RLI stock opened at $141.55 on Thursday. The company has a market cap of $6.47 billion, a P/E ratio of 19.55 and a beta of 0.41. RLI has a 1-year low of $125.77 and a 1-year high of $149.20. The company has a fifty day simple moving average of $143.22 and a 200 day simple moving average of $141.44.

RLI (NYSE:RLIGet Free Report) last released its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. The business had revenue of $444.80 million during the quarter, compared to the consensus estimate of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. On average, equities research analysts forecast that RLI will post 5.85 EPS for the current year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, May 31st will be issued a dividend of $0.29 per share. This is an increase from RLI’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, May 31st. This represents a $1.16 annualized dividend and a dividend yield of 0.82%. RLI’s payout ratio is presently 16.02%.

RLI Company Profile

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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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