RLI (NYSE:RLI) Hits New 1-Year Low – Should You Sell?

RLI Corp. (NYSE:RLI) shares hit a new 52-week low on Wednesday . The company traded as low as $51.06 and last traded at $51.2160, with a volume of 180924 shares trading hands. The stock had previously closed at $52.14.

Analyst Ratings Changes

Several brokerages have recently commented on RLI. Weiss Ratings restated a “hold (c-)” rating on shares of RLI in a report on Thursday, April 2nd. Citizens Jmp reiterated a “market perform” rating on shares of RLI in a report on Friday, January 23rd. Jefferies Financial Group raised RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price on the stock in a research report on Friday, January 23rd. Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company lowered their price target on RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.50.

RLI Stock Down 1.9%

The company’s 50-day moving average price is $58.94 and its 200-day moving average price is $60.75. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 11.96 and a beta of 0.52.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. RLI had a net margin of 20.81% and a return on equity of 17.72%. The firm had revenue of $423.87 million during the quarter, compared to analysts’ expectations of $564.47 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that RLI Corp. will post 2.71 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.16 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.64 annualized dividend and a dividend yield of 1.3%. RLI’s payout ratio is 14.95%.

Institutional Trading of RLI

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in RLI by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock valued at $604,542,000 after purchasing an additional 310,857 shares during the period. State Street Corp increased its holdings in RLI by 1.4% during the 4th quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock worth $567,823,000 after purchasing an additional 124,687 shares during the period. Wasatch Advisors LP raised its position in RLI by 33.1% in the 1st quarter. Wasatch Advisors LP now owns 2,579,955 shares of the insurance provider’s stock valued at $147,161,000 after purchasing an additional 641,769 shares in the last quarter. Geode Capital Management LLC raised its position in RLI by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,191,891 shares of the insurance provider’s stock valued at $140,260,000 after purchasing an additional 67,025 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of RLI by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,899,524 shares of the insurance provider’s stock valued at $121,536,000 after buying an additional 112,541 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

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.