RLI Corp. (NYSE:RLI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of RLI Corp. (NYSE:RLI) have earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $72.80.

Several brokerages recently issued reports on RLI. Truist Financial set a $62.00 price target on shares of RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th.

RLI Trading Up 0.1%

RLI stock opened at $58.90 on Friday. The business has a fifty day moving average price of $64.28 and a 200 day moving average price of $69.32. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.35 and a quick ratio of 0.35. RLI has a fifty-two week low of $58.07 and a fifty-two week high of $91.14. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 15.46 and a beta of 0.60.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21. The company had revenue of $510.22 million for the quarter, compared to analyst estimates of $444.75 million. RLI had a return on equity of 16.51% and a net margin of 19.02%.During the same quarter in the previous year, the firm earned $1.31 earnings per share. Analysts expect that RLI will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 29th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 annualized dividend and a yield of 1.1%. RLI’s dividend payout ratio is currently 16.80%.

Institutional Investors Weigh In On RLI

Hedge funds and other institutional investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund grew its position in shares of RLI by 100.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider’s stock worth $1,569,000 after buying an additional 9,763 shares during the period. New York State Teachers Retirement System lifted its holdings in RLI by 99.6% in the first quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider’s stock valued at $9,046,000 after buying an additional 56,208 shares during the period. Hsbc Holdings PLC boosted its stake in RLI by 255.2% in the first quarter. Hsbc Holdings PLC now owns 11,321 shares of the insurance provider’s stock valued at $909,000 after acquiring an additional 8,134 shares during the last quarter. Empower Advisory Group LLC grew its holdings in RLI by 105.5% during the 1st quarter. Empower Advisory Group LLC now owns 253,074 shares of the insurance provider’s stock worth $20,329,000 after acquiring an additional 129,901 shares during the period. Finally, Alaska Permanent Fund Corp grew its holdings in RLI by 100.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 41,476 shares of the insurance provider’s stock worth $3,070,000 after acquiring an additional 20,738 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

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.