RLI (NYSE:RLI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of RLI (NYSE:RLI) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 target price (up from $70.00) on shares of RLI in a report on Tuesday. UBS Group set a $74.00 price target on RLI in a research note on Tuesday. Weiss Ratings raised RLI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, Wells Fargo & Company lowered RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 target price for the company. in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $63.00.

RLI Stock Up 0.1%

Shares of RLI opened at $61.31 on Friday. The company’s fifty day moving average is $57.04 and its 200-day moving average is $57.49. RLI has a 12 month low of $47.26 and a 12 month high of $69.19. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 12.88 and a beta of 0.38.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.11. The business had revenue of $575.57 million during the quarter, compared to analyst estimates of $568.70 million. RLI had a net margin of 22.22% and a return on equity of 17.61%. RLI’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 EPS. As a group, research analysts predict that RLI will post 2.85 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a $0.18 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.72 annualized dividend and a yield of 1.2%. RLI’s payout ratio is currently 15.13%.

Insider Transactions at RLI

In other news, COO Jennifer L. Klobnak acquired 2,000 shares of RLI stock in a transaction on Wednesday, May 27th. The stock was bought at an average price of $52.72 per share, for a total transaction of $105,440.00. Following the transaction, the chief operating officer owned 104,318 shares of the company’s stock, valued at $5,499,644.96. The trade was a 1.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Craig W. Kliethermes acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average cost of $52.00 per share, for a total transaction of $104,000.00. Following the acquisition, the chief executive officer directly owned 150,990 shares in the company, valued at $7,851,480. This represents a 1.34% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 16,500 shares of company stock worth $858,955 over the last 90 days. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On RLI

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in shares of RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 201 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in RLI by 156.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 283 shares during the period. Eagle Bay Advisors LLC bought a new stake in RLI in the fourth quarter valued at about $43,000. IFP Advisors Inc increased its stake in RLI by 85.9% in the fourth quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 316 shares during the period. Finally, Advisory Services Network LLC acquired a new position in RLI in the third quarter worth about $47,000. Institutional investors own 77.89% of the company’s stock.

RLI Company Profile

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.