RLI (NYSE:RLI) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

RLI Corp. (NYSE:RLI) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $154.69 and traded as high as $167.85. RLI shares last traded at $165.02, with a volume of 161,838 shares.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RLI shares. Compass Point upped their price objective on RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Jefferies Financial Group boosted their price target on RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Oppenheimer assumed coverage on shares of RLI in a report on Wednesday, October 16th. They issued a “market perform” rating on the stock. Wolfe Research initiated coverage on shares of RLI in a report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price target on the stock. Finally, Royal Bank of Canada upped their target price on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RLI currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.40.

RLI Price Performance

The stock has a 50-day simple moving average of $168.35 and a 200-day simple moving average of $155.03. The stock has a market cap of $7.66 billion, a P/E ratio of 18.36 and a beta of 0.46.

RLI’s stock is scheduled 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 closing bell on Wednesday, January 15th.

RLI (NYSE:RLI) last announced its 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 firm had revenue of $470.00 million for the quarter, compared to the consensus estimate of $491.54 million. RLI had a return on equity of 19.03% and a net margin of 23.77%. The business’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. As a group, sell-side analysts forecast that RLI Corp. will post 5.85 earnings per share for the current year.

RLI Increases Dividend

The company also recently declared a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a $4.29 dividend. The ex-dividend date was Friday, November 29th. This represents a dividend yield of 0.7%. This is an increase from RLI’s previous None dividend of $2.25. RLI’s payout ratio is 12.75%.

Insider Transactions at RLI

In other RLI news, Director Michael J. Stone sold 200 shares of the 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 transaction, the director now directly owns 214,811 shares in the company, valued at approximately $36,421,205.05. This represents a 0.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RLI

A number of hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in shares of RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 155 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of RLI during the third quarter valued at about $32,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 77 shares in the last quarter. Finally, American National Bank & Trust increased its holdings in RLI by 62.5% during the 3rd quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

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.