Brokerages Set RLI Corp. (NYSE:RLI) PT at $72.80

Shares of RLI Corp. (NYSE:RLI) have been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $72.80.

A number of research analysts have weighed in on RLI shares. Wall Street Zen raised RLI from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Truist Financial set a $62.00 target price on RLI and gave the company a “hold” rating in a report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund raised its stake in shares of RLI by 100.0% in the first quarter. Illinois Municipal Retirement Fund now owns 19,526 shares of the insurance provider’s stock worth $1,569,000 after buying an additional 9,763 shares during the period. New York State Teachers Retirement System raised its stake in shares of RLI by 99.6% in the first quarter. New York State Teachers Retirement System now owns 112,616 shares of the insurance provider’s stock worth $9,046,000 after buying an additional 56,208 shares during the period. Hsbc Holdings PLC raised its stake in shares of RLI by 255.2% in the first quarter. Hsbc Holdings PLC now owns 11,321 shares of the insurance provider’s stock worth $909,000 after buying an additional 8,134 shares during the period. Empower Advisory Group LLC raised its stake in shares of RLI by 105.5% in the first quarter. Empower Advisory Group LLC now owns 253,074 shares of the insurance provider’s stock worth $20,329,000 after buying an additional 129,901 shares during the period. Finally, Alaska Permanent Fund Corp raised its stake in shares of RLI by 100.0% in the first quarter. Alaska Permanent Fund Corp now owns 41,476 shares of the insurance provider’s stock worth $3,070,000 after buying an additional 20,738 shares during the period. Institutional investors own 77.89% of the company’s stock.

RLI Stock Down 2.8%

RLI stock opened at $59.33 on Friday. RLI has a fifty-two week low of $59.01 and a fifty-two week high of $91.14. The business’s 50-day moving average is $64.86 and its two-hundred day moving average is $69.71. 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 cap of $5.45 billion, a price-to-earnings ratio of 15.57 and a beta of 0.60.

RLI (NYSE:RLI) last posted its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The company had revenue of $510.22 million for the quarter, compared to the consensus estimate of $444.75 million. During the same quarter in the prior year, the company earned $1.31 earnings per share. As a group, analysts forecast that RLI will post 3.08 earnings per share for the current year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. RLI’s dividend payout ratio (DPR) is 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.