RLI Corp. (NYSE:RLI) Receives $91.20 Consensus PT from Brokerages

Shares of RLI Corp. (NYSE:RLI) have been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $90.70.

Several research analysts recently commented on RLI shares. Royal Bank of Canada cut their price target on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday. Jefferies Financial Group lifted their target price on shares of RLI from $82.50 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Thursday. Compass Point boosted their price objective on RLI from $85.00 to $92.50 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods lowered their target price on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th.

RLI Stock Up 1.1 %

RLI stock opened at $72.52 on Friday. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 19.36 and a beta of 0.47. The business has a fifty day simple moving average of $82.71 and a 200-day simple moving average of $78.84. RLI has a 52 week low of $67.04 and a 52 week high of $91.14.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a return on equity of 16.38% and a net margin of 19.53%. As a group, analysts expect that RLI will post 3.13 earnings per share for the current fiscal year.

RLI Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were paid a dividend of $2.145 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a dividend yield of 0.7%. RLI’s dividend payout ratio is presently 15.49%.

Insider Buying and Selling

In other news, Director Michael J. Stone sold 400 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the sale, the director now owns 429,622 shares in the company, valued at approximately $36,421,205.05. This represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.09% of the company’s stock.

Institutional Trading of RLI

Institutional investors and hedge funds have recently bought and sold shares of the company. Motiv8 Investments LLC acquired a new stake in RLI during the third quarter worth about $217,000. Hsbc Holdings PLC boosted its position in RLI by 117.7% during the 2nd quarter. Hsbc Holdings PLC now owns 8,571 shares of the insurance provider’s stock valued at $1,206,000 after purchasing an additional 4,634 shares during the period. Donaldson Capital Management LLC bought a new position in RLI during the 3rd quarter worth $3,469,000. American National Bank & Trust increased its position in RLI by 62.5% in the third quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock worth $62,000 after buying an additional 155 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of RLI by 18.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 161,880 shares of the insurance provider’s stock valued at $22,775,000 after acquiring an additional 24,865 shares during the period. Institutional investors and hedge funds 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.