RLI Corp. (NYSE:RLI) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of RLI Corp. (NYSE:RLI) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $163.25.

RLI has been the topic of a number of recent research reports. Royal Bank of Canada increased their price target on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Wednesday. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Tuesday. Keefe, Bruyette & Woods increased their price target on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Compass Point increased their price target on RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday.

RLI Trading Up 1.3 %

Shares of NYSE RLI traded up $1.95 during trading hours on Wednesday, hitting $147.71. 219,425 shares of the company traded hands, compared to its average volume of 177,028. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 22.31 and a beta of 0.37. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average price is $144.54 and its 200 day moving average price is $138.85. RLI has a 12 month low of $123.04 and a 12 month high of $149.20.

RLI (NYSE:RLI) last announced its quarterly earnings data on Tuesday, April 23rd. The insurance provider reported $1.89 EPS for the quarter, beating the consensus estimate 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 17.77% and a net margin of 20.96%. RLI’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS. On average, equities research analysts anticipate that RLI will post 5.56 earnings per share for the current fiscal year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Wednesday, February 28th. RLI’s dividend payout ratio (DPR) is 16.31%.

Institutional Trading of RLI

Several institutional investors have recently bought and sold shares of RLI. Maren Capital LLC acquired a new stake in RLI in the fourth quarter valued at approximately $67,149,000. Norges Bank purchased a new position in shares of RLI in the fourth quarter valued at approximately $52,592,000. Charles Schwab Investment Management Inc. lifted its position in shares of RLI by 39.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 400,532 shares of the insurance provider’s stock valued at $54,428,000 after acquiring an additional 112,988 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in shares of RLI by 18.1% in the third quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock valued at $71,570,000 after acquiring an additional 80,552 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of RLI by 65.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 203,046 shares of the insurance provider’s stock valued at $27,029,000 after acquiring an additional 80,451 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

About RLI

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.