RLI Corp. (NYSE:RLI) Given Average Recommendation of “Hold” by Analysts

RLI Corp. (NYSE:RLI) has been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $63.00.

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of RLI from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded RLI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. UBS Group set a $74.00 target price on RLI in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 target price (up from $70.00) on shares of RLI in a report on Tuesday, July 28th. Finally, Wells Fargo & Company cut RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price target on the stock. in a research report on Wednesday, July 29th.

Insider Activity

In other news, COO Jennifer L. Klobnak purchased 2,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average price of $53.42 per share, for a total transaction of $106,840.00. Following the completion of the transaction, the chief operating officer owned 102,318 shares of the company’s stock, valued at approximately $5,465,827.56. The trade was a 1.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Craig W. Kliethermes acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $52.00 per share, for a total transaction of $260,000.00. Following the acquisition, the chief executive officer owned 148,990 shares in the company, valued at approximately $7,747,480. This trade represents a 3.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 16,500 shares of company stock worth $858,955. 2.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. bought a new stake in shares of RLI during the second quarter valued at about $2,604,000. Wasatch Advisors LP grew its position in RLI by 40.7% in the 2nd quarter. Wasatch Advisors LP now owns 3,631,273 shares of the insurance provider’s stock valued at $214,499,000 after buying an additional 1,051,318 shares in the last quarter. Handelsbanken Fonder AB grew its position in RLI by 37.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 38,060 shares of the insurance provider’s stock valued at $2,248,000 after buying an additional 10,400 shares in the last quarter. GAMMA Investing LLC increased its stake in RLI by 4.6% during the 2nd quarter. GAMMA Investing LLC now owns 5,534 shares of the insurance provider’s stock valued at $327,000 after buying an additional 242 shares during the period. Finally, Brighton Securities CORP. increased its stake in RLI by 12.2% during the 2nd quarter. Brighton Securities CORP. now owns 4,076 shares of the insurance provider’s stock valued at $241,000 after buying an additional 444 shares during the period. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Price Performance

RLI stock opened at $61.27 on Tuesday. RLI has a 1-year low of $47.26 and a 1-year high of $69.19. The firm has a fifty day moving average price of $57.21 and a two-hundred day moving average price of $57.50. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 12.87 and a beta of 0.38.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. RLI had a net margin of 22.22% and a return on equity of 17.61%. The company had revenue of $575.57 million for the quarter, compared to analysts’ expectations of $568.70 million. During the same period in the prior year, the company earned $0.82 earnings per share. The firm’s revenue was up 15.2% compared to the same quarter last year. As a group, analysts expect that RLI will post 2.85 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a $0.18 dividend. The ex-dividend date was Friday, May 29th. This is a positive change from RLI’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. RLI’s dividend payout ratio (DPR) is 15.13%.

RLI Company Profile

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.