Analysts Set RLI Corp. (NYSE:RLI) PT at $177.40

Shares of RLI Corp. (NYSE:RLI) have earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $177.40.

RLI has been the subject of a number of research analyst reports. Wolfe Research assumed coverage on RLI in a research report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 target price for the company. Jefferies Financial Group upped their price objective on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Compass Point raised their target price on shares of RLI from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Oppenheimer started coverage on shares of RLI in a research note on Wednesday, October 16th. They set a “market perform” rating on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd.

Hedge Funds Weigh In On RLI

Several institutional investors and hedge funds have recently modified their holdings of RLI. B. Riley Wealth Advisors Inc. grew its position in shares of RLI by 25.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,908 shares of the insurance provider’s stock valued at $259,000 after purchasing an additional 383 shares during the period. Cetera Advisors LLC acquired a new position in shares of RLI during the first quarter valued at approximately $515,000. GAMMA Investing LLC lifted its position in shares of RLI by 50.5% in the second quarter. GAMMA Investing LLC now owns 551 shares of the insurance provider’s stock valued at $78,000 after acquiring an additional 185 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of RLI by 2.7% in the second quarter. QRG Capital Management Inc. now owns 5,307 shares of the insurance provider’s stock worth $747,000 after acquiring an additional 142 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of RLI during the second quarter worth approximately $151,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Stock Down 0.7 %

Shares of RLI stock opened at $171.60 on Thursday. RLI has a twelve month low of $125.77 and a twelve month high of $182.29. The business’s fifty day moving average is $165.85 and its 200 day moving average is $152.99. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 18.86 and a beta of 0.46.

Shares of RLI are going to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly created shares will be distributed to shareholders after the market closes on Wednesday, January 15th.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 EPS for the quarter, topping the consensus estimate of $0.98 by $0.33. The company had revenue of $470.00 million during the quarter, compared to analyst estimates of $491.54 million. RLI had a return on equity of 19.03% and a net margin of 23.77%. The firm’s revenue was up 41.7% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. Equities research analysts expect that RLI will post 5.85 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently announced a None dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be issued a dividend of $4.29 per share. This represents a dividend yield of 0.7%. This is a positive change from RLI’s previous None dividend of $2.25. The ex-dividend date of this dividend is Friday, November 29th. RLI’s payout ratio is 12.75%.

RLI Company Profile

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.