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

Shares of RLI Corp. (NYSE:RLI) have been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $61.50.

RLI has been the subject of a number of research analyst reports. Weiss Ratings cut RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Zacks Research raised RLI from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Wells Fargo & Company decreased their target price on RLI from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Finally, Wall Street Zen downgraded RLI from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd.

Insider Activity at RLI

In related news, Director Clark C. Kellogg acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $50.90 per share, with a total value of $152,700.00. Following the purchase, the director directly owned 4,502 shares in the company, valued at approximately $229,151.80. This trade represents a 199.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Duclos bought 2,500 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was bought at an average price of $51.99 per share, for a total transaction of $129,975.00. Following the transaction, the director directly owned 9,780 shares of the company’s stock, valued at approximately $508,462.20. This represents a 34.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 16,500 shares of company stock worth $858,955 in the last 90 days. 2.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of 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 in the last quarter. Argent Capital Management LLC increased its holdings in RLI by 233.6% in the 1st quarter. Argent Capital Management LLC now owns 374,447 shares of the insurance provider’s stock worth $21,358,000 after purchasing an additional 262,218 shares in the last quarter. Bank of America Corp DE increased its holdings in RLI by 37.0% in the 1st quarter. Bank of America Corp DE now owns 282,656 shares of the insurance provider’s stock worth $16,123,000 after purchasing an additional 76,413 shares in the last quarter. Janus Henderson Group PLC raised its position in RLI by 12.0% in the first quarter. Janus Henderson Group PLC now owns 416,647 shares of the insurance provider’s stock valued at $23,765,000 after purchasing an additional 44,481 shares during the last quarter. Finally, Amundi bought a new position in RLI in the first quarter valued at about $294,000. 77.89% of the stock is currently owned by institutional investors.

RLI Trading Up 3.0%

Shares of RLI stock opened at $62.51 on Friday. The stock has a market cap of $5.75 billion, a P/E ratio of 14.60 and a beta of 0.38. The stock has a 50 day simple moving average of $52.79 and a 200 day simple moving average of $57.82. RLI has a 1 year low of $47.26 and a 1 year high of $72.12.

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

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a dividend of $0.18 per share. The ex-dividend date was Friday, May 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. This is a positive change from RLI’s previous quarterly dividend of $0.16. RLI’s dividend payout ratio is currently 16.82%.

About RLI

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.