RLI (NYSE:RLI) Reaches New 52-Week Low – Here’s What Happened

RLI Corp. (NYSE:RLI)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $57.50 and last traded at $56.7240, with a volume of 10576 shares changing hands. The stock had previously closed at $59.06.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Truist Financial set a $62.00 target price on RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. Wells Fargo & Company set a $62.00 price objective on shares of RLI and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Keefe, Bruyette & Woods decreased their target price on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.33.

RLI Price Performance

The firm has a market cap of $5.19 billion, a PE ratio of 14.82 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.35 and a quick ratio of 0.35. The business’s fifty day moving average is $62.86 and its 200-day moving average is $64.58.

RLI (NYSE:RLI) last released its earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.18. RLI had a net margin of 19.02% and a return on equity of 16.51%. The firm had revenue of $465.69 million during the quarter, compared to the consensus estimate of $447.53 million. During the same period in the prior year, the firm earned $0.41 EPS. On average, research analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 28th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 28th. RLI’s dividend payout ratio (DPR) is currently 16.80%.

Institutional Inflows and Outflows

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

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.