RLI Corp. (NYSE:RLI) Receives Consensus Rating of “Reduce” from Analysts

RLI Corp. (NYSE:RLI) has been given an average rating of “Reduce” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $63.20.

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of RLI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of RLI from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group set a $74.00 price target on shares of RLI in a research note on Tuesday, July 28th. Jefferies Financial Group lowered shares of RLI from a “hold” rating to an “underperform” rating and set a $53.00 price objective on the stock. in a report on Tuesday. Finally, Wells Fargo & Company cut shares of RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price objective for the company. in a research report on Wednesday, July 29th.

RLI Stock Performance

Shares of NYSE:RLI opened at $64.91 on Friday. The company has a market cap of $5.96 billion, a P/E ratio of 13.64 and a beta of 0.38. RLI has a one year low of $47.26 and a one year high of $68.69. The business’s 50-day simple moving average is $61.24 and its 200 day simple moving average is $58.12.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.72 by $0.11. RLI had a return on equity of 17.61% and a net margin of 22.22%.The firm had revenue of $575.57 million for the quarter, compared to analyst estimates of $568.70 million. During the same period in the previous year, the company posted $0.82 EPS. RLI’s revenue for the quarter was up 15.2% on a year-over-year basis. Analysts predict that RLI will post 2.88 earnings per share for the current year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a $0.18 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. RLI’s payout ratio is 15.13%.

Insider Buying and Selling

In other RLI news, Director Clark C. Kellogg purchased 3,000 shares of RLI stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $50.90 per share, with a total value of $152,700.00. Following the completion of the acquisition, the director owned 4,502 shares of the company’s stock, valued at approximately $229,151.80. This trade represents a 199.73% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On RLI

A number of institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position 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. Northwestern Mutual Wealth Management Co. raised its holdings in RLI by 156.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 283 shares in the last quarter. IFP Advisors Inc raised its holdings in RLI by 85.9% in the fourth quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 316 shares in the last quarter. Advisory Services Network LLC bought a new position in RLI during the 3rd quarter valued at $47,000. Finally, Versant Capital Management Inc boosted its stake in RLI by 28.5% during the 2nd quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 185 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

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.