RLI Corp. (NYSE:RLI) Receives $72.00 Average PT from Analysts

RLI Corp. (NYSE:RLI) has received an average recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $72.00.

Several equities research analysts recently issued reports on RLI shares. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price objective on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a report on Tuesday, January 6th. Finally, Truist Financial set a $62.00 target price on RLI and gave the company a “hold” rating in a report on Friday, October 3rd.

Hedge Funds Weigh In On RLI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RLI. Allianz Asset Management GmbH lifted its position in RLI by 2.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 7,104 shares of the insurance provider’s stock worth $513,000 after acquiring an additional 163 shares during the last quarter. Signaturefd LLC increased its stake in shares of RLI by 16.0% in the second quarter. Signaturefd LLC now owns 1,240 shares of the insurance provider’s stock worth $90,000 after purchasing an additional 171 shares during the period. Vista Finance LLC lifted its position in shares of RLI by 4.0% during the 2nd quarter. Vista Finance LLC now owns 4,655 shares of the insurance provider’s stock worth $336,000 after purchasing an additional 181 shares during the last quarter. Allworth Financial LP boosted its stake in RLI by 5.3% during the 3rd quarter. Allworth Financial LP now owns 3,760 shares of the insurance provider’s stock valued at $245,000 after purchasing an additional 189 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in RLI by 6.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,341 shares of the insurance provider’s stock valued at $241,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Price Performance

NYSE RLI opened at $58.53 on Friday. The business’s fifty day moving average is $63.11 and its two-hundred day moving average is $65.04. The stock has a market capitalization of $5.38 billion, a P/E ratio of 15.36 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35. RLI has a 1 year low of $57.75 and a 1 year high of $81.79.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, beating 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 business had revenue of $509.26 million during the quarter, compared to analyst estimates of $444.75 million. During the same quarter last year, the company posted $1.31 EPS. On average, research analysts forecast that RLI will post 3.08 earnings per share for the current fiscal year.

RLI Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, November 28th. RLI’s dividend payout ratio (DPR) 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.