RLI Corp. (NYSE:RLI) Receives Average Recommendation of “Hold” from Analysts

RLI Corp. (NYSE:RLI) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $72.80.

Several analysts have recently weighed in on RLI shares. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. Truist Financial set a $62.00 price target on RLI and gave the company a “hold” rating in a report on Friday, October 3rd.

Institutional Trading of RLI

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quent Capital LLC bought a new stake in RLI in the third quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of RLI by 7,300.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock worth $27,000 after buying an additional 365 shares during the period. Clarity Asset Management Inc. bought a new position in RLI in the 2nd quarter valued at about $28,000. Chung Wu Investment Group LLC bought a new stake in shares of RLI in the second quarter valued at about $29,000. Finally, Hantz Financial Services Inc. boosted its holdings in RLI by 3,645.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 401 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Stock Performance

Shares of RLI opened at $63.98 on Thursday. RLI has a 52 week low of $57.75 and a 52 week high of $91.14. The company’s 50 day moving average price is $62.63 and its 200 day moving average price is $67.72. 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 $5.88 billion, a PE ratio of 16.79 and a beta of 0.61.

RLI (NYSE:RLI) last posted its earnings results on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $444.75 million. During the same period in the prior year, the business posted $1.31 earnings per share. Research analysts expect that RLI will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 28th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, November 28th. RLI’s payout ratio is presently 16.80%.

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.