RLI Corp. (NYSE:RLI) Receives $177.40 Consensus Price Target from Brokerages

RLI Corp. (NYSE:RLI) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $177.40.

A number of research analysts have recently issued reports on RLI shares. Wolfe Research started coverage on RLI in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price objective on the stock. Oppenheimer assumed coverage on RLI in a report on Wednesday, October 16th. They set a “market perform” rating on the stock. Jefferies Financial Group raised their price objective on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Compass Point boosted 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. Finally, Royal Bank of Canada raised their price target on shares of RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd.

RLI Stock Performance

NYSE:RLI opened at $164.83 on Monday. RLI has a fifty-two week low of $132.30 and a fifty-two week high of $182.29. The company has a 50 day simple moving average of $168.85 and a two-hundred day simple moving average of $155.99. The company has a market capitalization of $7.55 billion, a PE ratio of 18.11 and a beta of 0.46.

RLI’s stock is set to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly created shares will be issued to shareholders after the closing bell on Wednesday, January 15th.

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

RLI Increases Dividend

The company also recently announced a None dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were issued a $4.29 dividend. This is a boost from RLI’s previous None dividend of $2.25. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, November 29th. RLI’s dividend payout ratio (DPR) is currently 12.75%.

Insider Buying and Selling at RLI

In other RLI news, Director Michael J. Stone sold 200 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $169.55, for a total transaction of $33,910.00. Following the completion of the sale, the director now directly owns 214,811 shares of the company’s stock, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. State Street Corp boosted its holdings in RLI by 1.3% during the third quarter. State Street Corp now owns 4,393,250 shares of the insurance provider’s stock worth $680,866,000 after purchasing an additional 58,167 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of RLI by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 931,454 shares of the insurance provider’s stock worth $131,045,000 after buying an additional 24,125 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of RLI by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider’s stock worth $140,817,000 after buying an additional 50,654 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of RLI by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 813,719 shares of the insurance provider’s stock valued at $126,110,000 after acquiring an additional 4,330 shares in the last quarter. Finally, Port Capital LLC increased its position in shares of RLI by 0.4% during the third quarter. Port Capital LLC now owns 759,988 shares of the insurance provider’s stock valued at $117,783,000 after acquiring an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

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.