RLI Corp. (NYSE:RLI) Receives $72.80 Average Price Target from Brokerages

Shares of RLI Corp. (NYSE:RLI) have received an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $72.80.

A number of equities analysts have commented on RLI shares. Truist Financial set a $62.00 target price on RLI and gave the company a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded RLI from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH increased its stake in shares of RLI by 2.3% in the second quarter. Allianz Asset Management GmbH now owns 7,104 shares of the insurance provider’s stock valued at $513,000 after purchasing an additional 163 shares during the period. Signaturefd LLC grew its holdings in RLI by 16.0% in the 2nd quarter. Signaturefd LLC now owns 1,240 shares of the insurance provider’s stock worth $90,000 after buying an additional 171 shares in the last quarter. Vista Finance LLC increased its position in RLI by 4.0% in the 2nd quarter. Vista Finance LLC now owns 4,655 shares of the insurance provider’s stock valued at $336,000 after acquiring an additional 181 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in RLI by 6.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,341 shares of the insurance provider’s stock valued at $241,000 after acquiring an additional 195 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in RLI by 100.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 198 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Stock Up 0.1%

NYSE:RLI opened at $64.16 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 16.84 and a beta of 0.61. RLI has a one year low of $57.75 and a one year high of $91.14. The stock has a 50-day simple moving average of $62.73 and a 200 day simple moving average of $67.94.

RLI (NYSE:RLI) last released 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. RLI had a net margin of 19.02% and a return on equity of 16.51%. The firm had revenue of $509.26 million during the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the previous year, the company posted $1.31 earnings per share. Sell-side analysts predict that RLI will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, November 28th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, November 28th. RLI’s dividend payout ratio (DPR) is 16.80%.

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.