RLI (NYSE:RLI) Reaches New 1-Year Low – What’s Next?

RLI Corp. (NYSE:RLI) hit a new 52-week low on Thursday . The stock traded as low as $57.50 and last traded at $56.7240, with a volume of 10576 shares trading hands. The stock had previously closed at $59.06.

Analyst Ratings Changes

RLI has been the subject of a number of recent analyst reports. Wells Fargo & Company set a $62.00 target price on RLI and gave the company an “equal weight” rating in a report on Thursday, January 15th. Keefe, Bruyette & Woods reduced their price objective on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Finally, Truist Financial set a $62.00 price target on shares of RLI and gave the company a “hold” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.33.

RLI Price Performance

The company has a market capitalization of $5.19 billion, a PE ratio of 14.82 and a beta of 0.54. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average is $62.86 and its 200-day moving average is $64.58.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.18. RLI had a return on equity of 16.51% and a net margin of 19.02%.The business had revenue of $465.69 million for the quarter, compared to the consensus estimate of $447.53 million. During the same quarter last year, the business posted $0.41 earnings per share. Equities analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 28th were given a $0.16 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.1%. RLI’s payout ratio is presently 16.80%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quent Capital LLC purchased a new stake in shares of RLI in the 3rd quarter valued at $26,000. Caitong International Asset Management Co. Ltd boosted its position in RLI by 7,300.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock valued at $27,000 after buying an additional 365 shares during the period. Clarity Asset Management Inc. bought a new position in shares of RLI during the second quarter valued at about $28,000. Chung Wu Investment Group LLC purchased a new position in shares of RLI in the second quarter worth about $29,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of RLI by 3,645.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 401 shares during the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.