RLI Corp. (NYSE:RLI) Receives Average Recommendation of “Hold” from Brokerages

Shares of RLI Corp. (NYSE:RLI) have earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $72.00.

Several research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. Truist Financial set a $62.00 target price on shares of RLI and gave the stock a “hold” rating in a research note on Friday, October 3rd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of RLI from $85.00 to $81.00 and set an “outperform” rating on the stock in a report on Tuesday.

Hedge Funds Weigh In On RLI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of RLI by 1.6% during the third quarter. Vanguard Group Inc. now owns 9,138,072 shares of the insurance provider’s stock valued at $595,985,000 after purchasing an additional 148,019 shares in the last quarter. State Street Corp grew its position in RLI by 3.3% during the third quarter. State Street Corp now owns 8,750,315 shares of the insurance provider’s stock valued at $570,696,000 after buying an additional 279,983 shares during the period. Maren Capital LLC increased its holdings in RLI by 2.8% during the second quarter. Maren Capital LLC now owns 1,595,038 shares of the insurance provider’s stock worth $115,194,000 after buying an additional 42,985 shares during the last quarter. JPMorgan Chase & Co. raised its position in RLI by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 1,422,596 shares of the insurance provider’s stock worth $92,782,000 after acquiring an additional 191,020 shares during the period. Finally, Van Berkom & Associates Inc. boosted its stake in RLI by 14.6% in the third quarter. Van Berkom & Associates Inc. now owns 1,229,649 shares of the insurance provider’s stock valued at $80,198,000 after acquiring an additional 156,241 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

RLI Trading Up 2.1%

NYSE RLI opened at $61.00 on Friday. The firm has a market capitalization of $5.60 billion, a PE ratio of 16.01 and a beta of 0.54. The business’s 50-day moving average price is $63.11 and its two-hundred day moving average price is $65.41. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.05. RLI has a 12 month low of $57.75 and a 12 month high of $81.79.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The company had revenue of $509.26 million for the quarter, compared to analyst estimates of $444.75 million. During the same period in the previous year, the firm earned $1.31 earnings per share. On average, analysts expect that RLI will post 3.08 EPS for the current year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 28th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, November 28th. RLI’s dividend payout ratio is presently 16.80%.

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.