RLI Corp. (NYSE:RLI) Stock Has Average Target Price of $62.40

Shares of RLI Corp. (NYSE:RLI) have been given an average rating of “Reduce” by the six analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $62.40.

A number of research analysts have recently weighed in on RLI shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 price objective (up from $69.00) on shares of RLI in a research report on Wednesday, October 21st. Wells Fargo & Company set a $53.00 target price on RLI and gave the stock an “underweight” rating in a report on Wednesday, October 21st. Weiss Ratings upgraded RLI from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 28th. Jefferies Financial Group lowered RLI from a “hold” rating to an “underperform” rating and set a $53.00 price target for the company. in a research note on Tuesday, August 25th. Finally, Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a report on Saturday, August 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Compass Wealth Management LLC purchased a new position in RLI during the 3rd quarter valued at $27,000. Bessemer Group Inc. increased its stake in RLI by 79.7% in the third quarter. Bessemer Group Inc. now owns 530 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 235 shares during the period. Farther Finance Advisors LLC increased its stake in RLI by 62.1% in the third quarter. Farther Finance Advisors LLC now owns 629 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 241 shares during the period. Versant Capital Management Inc increased its stake in RLI by 28.5% in the second quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 185 shares during the period. Finally, Heritage Family Offices LLP bought a new stake in shares of RLI during the third quarter worth $59,000. Institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

RLI opened at $67.97 on Thursday. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 19.92 and a beta of 0.31. The company has a fifty day moving average of $61.05 and a 200 day moving average of $58.95. RLI has a fifty-two week low of $47.26 and a fifty-two week high of $71.89.

RLI (NYSE:RLI) last announced its quarterly earnings results on Monday, October 19th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.32. The company had revenue of $476.96 million for the quarter, compared to the consensus estimate of $533.51 million. RLI had a net margin of 20.34% and a return on equity of 18.19%. During the same period in the previous year, the firm posted $0.83 EPS. On average, equities research analysts forecast that RLI will post 3.15 earnings per share for the current year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a $0.18 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.1%. RLI’s dividend payout ratio (DPR) is currently 16.78%.

RLI Company Profile

RLI Corp. is a specialty insurance company that provides property, casualty and surety coverage through its subsidiaries. Its products serve businesses and individuals whose insurance needs may require specialized underwriting.

The company offers commercial liability and property insurance, personal umbrella coverage, and surety bonds, among other products. RLI distributes its policies primarily through independent agents and brokers and serves customers across the United States.

Founded in 1965, RLI began by providing replacement-cost coverage for mobile homes before expanding into a broader range of specialty insurance markets.