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

Shares of RLI Corp. (NYSE:RLI) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $61.50.

A number of equities research analysts recently commented on RLI shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RLI in a report on Thursday, April 2nd. Wall Street Zen cut shares of RLI from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Truist Financial set a $58.00 price target on shares of RLI in a report on Friday, January 23rd. Keefe, Bruyette & Woods raised shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of RLI in a report on Friday, January 23rd.

Institutional Investors Weigh In On RLI

A number of hedge funds have recently modified their holdings of RLI. Quent Capital LLC bought a new stake in RLI during the 3rd quarter valued at $26,000. Farther Finance Advisors LLC raised its holdings in RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 201 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in RLI by 156.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 283 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in RLI by 72.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 259 shares during the period. Finally, AlphaQuest LLC bought a new stake in RLI during the 3rd quarter valued at $43,000. Institutional investors own 77.89% of the company’s stock.

RLI Stock Up 4.2%

Shares of NYSE RLI opened at $52.95 on Thursday. RLI has a twelve month low of $47.26 and a twelve month high of $77.24. The stock’s 50 day moving average price is $56.15 and its 200-day moving average price is $59.80. The company has a market capitalization of $4.87 billion, a PE ratio of 12.37 and a beta of 0.42.

RLI (NYSE:RLI) last posted its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. The company had revenue of $423.87 million for the quarter, compared to analysts’ expectations of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. RLI’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. As a group, research analysts expect that RLI will post 2.7 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $0.18 dividend. This is a boost from RLI’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. RLI’s payout ratio is presently 14.95%.

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.