RLI (NYSE:RLI) Given Market Perform Rating at JMP Securities

JMP Securities reiterated their market perform rating on shares of RLI (NYSE:RLI) in a report published on Tuesday morning, Benzinga reports.

Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods boosted their target price on RLI from $160.00 to $168.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. Royal Bank of Canada reiterated a sector perform rating and set a $148.00 target price on shares of RLI in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, RLI currently has a consensus rating of Hold and a consensus target price of $160.25.

RLI Stock Up 3.2 %

RLI stock opened at $145.76 on Tuesday. The stock’s 50 day moving average price is $144.54 and its 200 day moving average price is $138.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $6.66 billion, a PE ratio of 22.02 and a beta of 0.37. RLI has a 1-year low of $123.04 and a 1-year high of $149.65.

RLI (NYSE:RLI) last posted its earnings results on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The company had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. RLI had a return on equity of 17.02% and a net margin of 20.15%. RLI’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. On average, sell-side analysts predict that RLI will post 5.56 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were given a $0.27 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 0.74%. RLI’s dividend payout ratio is currently 16.31%.

Institutional Trading of RLI

Several institutional investors and hedge funds have recently made changes to their positions in RLI. Commerce Bank increased its stake in RLI by 1.7% in the fourth quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock valued at $588,000 after purchasing an additional 75 shares during the last quarter. Resonant Capital Advisors LLC increased its stake in RLI by 1.7% in the third quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock valued at $642,000 after purchasing an additional 77 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in RLI by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 17,660 shares of the insurance provider’s stock valued at $2,400,000 after purchasing an additional 90 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in RLI by 3.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 99 shares during the last quarter. Finally, Brookstone Capital Management increased its stake in RLI by 6.4% in the fourth quarter. Brookstone Capital Management now owns 1,906 shares of the insurance provider’s stock valued at $254,000 after purchasing an additional 114 shares during the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.