RLI Corp. (NYSE:RLI) Given Consensus Rating of “Hold” by Brokerages

Shares of RLI Corp. (NYSE:RLI) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $60.50.

RLI has been the topic of a number of recent research reports. Zacks Research upgraded RLI from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Wells Fargo & Company increased their target price on RLI from $55.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday. Wall Street Zen cut shares of RLI from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of RLI from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday.

Insiders Place Their Bets

In other RLI news, COO Jennifer L. Klobnak acquired 2,000 shares of RLI stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $53.42 per share, with a total value of $106,840.00. Following the completion of the purchase, the chief operating officer directly owned 102,318 shares of the company’s stock, valued at $5,465,827.56. This represents a 1.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig W. Kliethermes bought 5,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average price of $52.00 per share, for a total transaction of $260,000.00. Following the transaction, the chief executive officer owned 148,990 shares of the company’s stock, valued at approximately $7,747,480. The trade was a 3.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 16,500 shares of company stock worth $858,955. 2.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RLI

Hedge funds have recently made changes to their positions in the stock. Chatham Capital Group Inc. increased its position in RLI by 0.7% during the 4th quarter. Chatham Capital Group Inc. now owns 26,460 shares of the insurance provider’s stock worth $1,693,000 after purchasing an additional 180 shares in the last quarter. Covestor Ltd boosted its position in RLI by 13.0% in the fourth quarter. Covestor Ltd now owns 1,590 shares of the insurance provider’s stock valued at $102,000 after buying an additional 183 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of RLI by 28.5% during the second quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock worth $49,000 after buying an additional 185 shares during the last quarter. Allworth Financial LP grew its stake in shares of RLI by 5.3% during the third quarter. Allworth Financial LP now owns 3,760 shares of the insurance provider’s stock worth $245,000 after buying an additional 189 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of RLI by 94.4% during the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after buying an additional 201 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Trading Down 1.1%

Shares of RLI opened at $60.02 on Friday. RLI has a 12 month low of $47.26 and a 12 month high of $71.17. The firm’s 50 day moving average is $53.56 and its 200-day moving average is $57.67. The stock has a market capitalization of $5.52 billion, a PE ratio of 14.02 and a beta of 0.38.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. The company had revenue of $423.87 million during the quarter, compared to the consensus estimate of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. Equities research analysts predict that RLI will post 2.75 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from RLI’s previous quarterly dividend of $0.16. RLI’s dividend payout ratio (DPR) is 16.82%.

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.