RLI Corp. (RLI) Given Average Rating of “Hold” by Analysts

RLI Corp. (NYSE:RLI) has earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $57.67.

RLI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods set a $51.00 target price on shares of RLI and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $51.00 price target (up previously from $50.00) on shares of RLI in a report on Friday, October 20th. Zacks Investment Research raised shares of RLI from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, B. Riley reaffirmed a “neutral” rating on shares of RLI in a report on Monday, November 6th.

RLI (NYSE:RLI) opened at $60.79 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. RLI has a 1 year low of $50.34 and a 1 year high of $65.68. The firm has a market cap of $2,716.73, a PE ratio of 25.65 and a beta of 1.26.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, January 24th. The insurance provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. RLI had a net margin of 13.17% and a return on equity of 8.21%. The company had revenue of $202.74 million for the quarter, compared to analyst estimates of $197.85 million. equities analysts anticipate that RLI will post 2.22 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Wednesday, February 28th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Tuesday, February 27th. RLI’s dividend payout ratio (DPR) is presently 35.44%.

In other RLI news, Director Michael J. Stone sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $60.33, for a total value of $120,660.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Aaron Paul Diefenthaler sold 900 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $64.77, for a total transaction of $58,293.00. The disclosure for this sale can be found here. Insiders sold 11,041 shares of company stock worth $692,888 in the last ninety days. Insiders own 6.09% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in RLI. New York State Common Retirement Fund lifted its stake in shares of RLI by 5.0% during the second quarter. New York State Common Retirement Fund now owns 41,800 shares of the insurance provider’s stock valued at $2,283,000 after buying an additional 1,999 shares during the period. GSA Capital Partners LLP purchased a new position in shares of RLI during the second quarter valued at approximately $314,000. Vanguard Group Inc. lifted its stake in shares of RLI by 1.1% during the second quarter. Vanguard Group Inc. now owns 4,208,225 shares of the insurance provider’s stock valued at $229,853,000 after buying an additional 45,127 shares during the period. California Public Employees Retirement System lifted its stake in shares of RLI by 4.8% during the second quarter. California Public Employees Retirement System now owns 111,400 shares of the insurance provider’s stock valued at $6,085,000 after buying an additional 5,100 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of RLI by 13.9% during the second quarter. Parametric Portfolio Associates LLC now owns 98,136 shares of the insurance provider’s stock valued at $5,360,000 after buying an additional 11,981 shares during the period. 84.03% of the stock is currently owned by institutional investors and hedge funds.

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RLI Company Profile

RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.

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