RLI Corp. (RLI) Given Average Recommendation of “Hold” by Analysts
Shares of RLI Corp. (NYSE:RLI) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $46.50.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Monday, July 24th. FBR & Co restated a “hold” rating on shares of RLI Corp. in a research note on Friday, July 21st. Finally, BidaskClub cut RLI Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 11th.
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RLI Corp. (NYSE:RLI) opened at 58.39 on Friday. RLI Corp. has a 52 week low of $50.34 and a 52 week high of $69.39. The company’s 50-day moving average price is $54.78 and its 200 day moving average price is $55.91. The stock has a market capitalization of $2.57 billion, a P/E ratio of 25.84 and a beta of 1.24.
RLI Corp. (NYSE:RLI) last posted its quarterly earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.09. RLI Corp. had a return on equity of 10.10% and a net margin of 12.38%. The company had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $198.09 million. During the same period last year, the firm earned $0.61 earnings per share. RLI Corp.’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts expect that RLI Corp. will post $2.02 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Thursday, August 31st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Tuesday, August 29th. RLI Corp.’s dividend payout ratio is presently 37.17%.
In other news, Director Robert P. Restrepo, Jr. acquired 1,200 shares of the company’s stock in a transaction on Monday, July 24th. The shares were bought at an average price of $57.58 per share, with a total value of $69,096.00. Following the completion of the acquisition, the director now owns 7,000 shares in the company, valued at approximately $403,060. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Angelina acquired 1,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average cost of $54.41 per share, for a total transaction of $54,410.00. The disclosure for this purchase can be found here. 6.09% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of RLI Corp. during the second quarter worth about $388,000. Public Employees Retirement System of Ohio grew its holdings in shares of RLI Corp. by 0.7% during the second quarter. Public Employees Retirement System of Ohio now owns 32,638 shares of the insurance provider’s stock worth $1,783,000 after purchasing an additional 236 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of RLI Corp. during the second quarter worth about $452,000. Atlanta Capital Management Co. L L C grew its holdings in shares of RLI Corp. by 3.4% during the second quarter. Atlanta Capital Management Co. L L C now owns 420,855 shares of the insurance provider’s stock worth $22,987,000 after purchasing an additional 13,709 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of RLI Corp. by 155.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,423 shares of the insurance provider’s stock worth $569,000 after purchasing an additional 6,338 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.
About RLI Corp.
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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