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

RLI Corp. (NYSE:RLI) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $163.25.

RLI has been the subject of a number of research reports. Compass Point increased their price target on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada raised their target price on RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 24th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th.

RLI Stock Performance

RLI opened at $145.88 on Friday. The stock has a market capitalization of $6.67 billion, a PE ratio of 20.15 and a beta of 0.37. The stock’s 50 day moving average price is $144.52 and its 200-day moving average price is $140.58. RLI has a 52-week low of $123.04 and a 52-week high of $149.20.

RLI (NYSE:RLI) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, beating 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 business had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. During the same period in the previous year, the firm earned $1.63 EPS. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. Research analysts forecast that RLI will post 5.84 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.80%. This is an increase from RLI’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, May 31st. RLI’s dividend payout ratio (DPR) is currently 14.92%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. bought a new stake in RLI in the 4th quarter worth about $25,000. Gladius Capital Management LP raised its holdings in shares of RLI by 129.7% during the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 153 shares during the last quarter. GAMMA Investing LLC bought a new position in RLI during the fourth quarter valued at approximately $41,000. Riverview Trust Co purchased a new stake in RLI in the first quarter worth approximately $44,000. Finally, Intelligent Financial Strategies bought a new stake in RLI in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

About RLI

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.