RLI Corp. (NYSE:RLI) Receives Consensus Rating of “Hold” from Brokerages

RLI Corp. (NYSE:RLI) has received a consensus rating of “Hold” from the eight analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $65.20.

A number of research analysts have commented on RLI shares. Jefferies Financial Group raised RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target for the company in a research report on Friday, January 23rd. Wells Fargo & Company set a $59.00 price objective on RLI and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods raised RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Zacks Research downgraded RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Finally, Truist Financial set a $58.00 price target on RLI in a research note on Friday, January 23rd.

Insider Transactions at RLI

In related news, CEO Craig W. Kliethermes purchased 5,000 shares of RLI stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average price of $57.45 per share, for a total transaction of $287,250.00. Following the completion of the transaction, the chief executive officer directly owned 143,990 shares of the company’s stock, valued at $8,272,225.50. This represents a 3.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jennifer L. Klobnak purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average cost of $57.99 per share, with a total value of $115,980.00. Following the completion of the purchase, the chief operating officer owned 100,318 shares of the company’s stock, valued at $5,817,440.82. This represents a 2.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RLI. Principal Financial Group Inc. lifted its position in RLI by 8.0% during the third quarter. Principal Financial Group Inc. now owns 274,777 shares of the insurance provider’s stock valued at $17,921,000 after buying an additional 20,438 shares during the period. JPMorgan Chase & Co. grew its position in shares of RLI by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,422,596 shares of the insurance provider’s stock worth $92,782,000 after buying an additional 191,020 shares during the period. Van Berkom & Associates Inc. increased its stake in shares of RLI by 14.6% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,229,649 shares of the insurance provider’s stock worth $80,198,000 after acquiring an additional 156,241 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of RLI by 222.1% in the 2nd quarter. Hsbc Holdings PLC now owns 36,461 shares of the insurance provider’s stock worth $2,613,000 after acquiring an additional 25,140 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in RLI by 21.8% during the 3rd quarter. ProShare Advisors LLC now owns 515,819 shares of the insurance provider’s stock valued at $33,642,000 after acquiring an additional 92,381 shares during the period. Institutional investors own 77.89% of the company’s stock.

RLI Stock Down 0.6%

Shares of RLI opened at $57.01 on Wednesday. The stock has a market capitalization of $5.24 billion, a P/E ratio of 13.08 and a beta of 0.50. RLI has a twelve month low of $55.80 and a twelve month high of $81.79. The firm has a fifty day simple moving average of $60.04 and a two-hundred day simple moving average of $61.81.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.76 by $0.18. The firm had revenue of $465.69 million during the quarter, compared to the consensus estimate of $447.53 million. RLI had a net margin of 21.43% and a return on equity of 18.67%. During the same period in the prior year, the firm posted $0.41 earnings per share. Sell-side analysts expect that RLI will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, March 2nd. RLI’s dividend payout ratio (DPR) is currently 14.68%.

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.