RLI Corp. (NYSE:RLI) Receives $65.20 Average PT from Analysts

Shares of RLI Corp. (NYSE:RLI) have earned a consensus rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $65.20.

RLI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Truist Financial set a $58.00 price objective on RLI in a research report on Friday, January 23rd. Jefferies Financial Group raised RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective on the stock in a research note on Friday, January 23rd. Zacks Research lowered RLI from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of RLI in a research report on Friday, January 23rd.

RLI Stock Down 2.3%

Shares of NYSE:RLI opened at $60.28 on Tuesday. The company’s fifty day moving average is $61.71 and its 200-day moving average is $63.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.32. RLI has a 52 week low of $55.80 and a 52 week high of $81.79. The company has a market capitalization of $5.54 billion, a PE ratio of 13.83 and a beta of 0.53.

RLI (NYSE:RLI) last announced its earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.18. The business had revenue of $465.69 million during the quarter, compared to analysts’ expectations of $447.53 million. RLI had a net margin of 21.43% and a return on equity of 18.67%. During the same quarter last year, the company posted $0.41 EPS. Equities research analysts predict that RLI will post 3.08 earnings per share for the current fiscal year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 28th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.1%. RLI’s dividend payout ratio (DPR) is currently 14.68%.

Insider Buying and Selling at RLI

In other news, COO Jennifer L. Klobnak purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average price of $57.99 per share, for a total transaction of $115,980.00. Following the completion of the acquisition, the chief operating officer directly owned 100,318 shares in the company, valued at approximately $5,817,440.82. The trade was a 2.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Craig W. Kliethermes acquired 5,000 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were purchased at an average cost of $57.45 per share, with a total value of $287,250.00. Following the completion of the acquisition, the chief executive officer directly owned 143,990 shares in the company, valued at approximately $8,272,225.50. The trade was a 3.60% increase in their position. The SEC filing for this purchase provides additional information. 2.16% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RLI

Institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC bought a new position in shares of RLI during the second quarter worth about $221,000. Principal Financial Group Inc. boosted its position in RLI by 8.0% during the 3rd quarter. Principal Financial Group Inc. now owns 274,777 shares of the insurance provider’s stock worth $17,921,000 after acquiring an additional 20,438 shares during the last quarter. Equitable Trust Co. grew its stake in shares of RLI by 60.0% during the 2nd quarter. Equitable Trust Co. now owns 13,013 shares of the insurance provider’s stock worth $940,000 after acquiring an additional 4,880 shares in the last quarter. AGF Management Ltd. raised its holdings in shares of RLI by 12.4% in the second quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock valued at $2,885,000 after purchasing an additional 4,419 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in shares of RLI by 228.4% in the second quarter. Mutual of America Capital Management LLC now owns 140,971 shares of the insurance provider’s stock worth $10,181,000 after purchasing an additional 98,049 shares in the last quarter. Institutional investors and hedge funds 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.