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RLI Corp. (NYSE:RLI) Given Average Recommendation of "Hold" by Brokerages

RLI logo with Finance background

Shares of RLI Corp. (NYSE:RLI - Get Free Report) have earned a consensus rating of "Hold" from the seven research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $82.80.

RLI has been the topic of several research reports. Keefe, Bruyette & Woods cut their price target on RLI from $100.50 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, January 23rd. Jefferies Financial Group lowered RLI from a "buy" rating to an "underperform" rating and cut their price target for the company from $95.00 to $61.00 in a research note on Monday, January 27th. Compass Point cut their price target on RLI from $185.00 to $82.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Finally, StockNews.com lowered RLI from a "hold" rating to a "sell" rating in a research note on Monday, January 27th.

Check Out Our Latest Stock Analysis on RLI

RLI Price Performance

RLI stock traded down $0.09 on Tuesday, reaching $74.59. The company's stock had a trading volume of 434,658 shares, compared to its average volume of 556,908. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 19.92 and a beta of 0.46. The business's fifty day moving average price is $78.02 and its 200 day moving average price is $79.19. RLI has a twelve month low of $67.53 and a twelve month high of $91.14.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.64). RLI had a return on equity of 16.63% and a net margin of 19.53%. Equities analysts expect that RLI will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be paid a $0.15 dividend. This is a positive change from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.80%. RLI's dividend payout ratio is presently 15.49%.

Insider Buying and Selling at RLI

In other RLI news, CEO Craig W. Kliethermes purchased 5,000 shares of the stock in a transaction on Friday, January 24th. The stock was bought at an average cost of $71.35 per share, for a total transaction of $356,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 139,190 shares of the company's stock, valued at $9,931,206.50. The trade was a 3.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Stone sold 400 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $84.78, for a total value of $33,910.00. Following the completion of the sale, the director now owns 429,622 shares of the company's stock, valued at $36,421,205.05. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 11,200 shares of company stock valued at $805,774. 5.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RLI

Several large investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. grew its holdings in shares of RLI by 0.8% during the third quarter. Brown Brothers Harriman & Co. now owns 7,879 shares of the insurance provider's stock worth $1,221,000 after buying an additional 66 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of RLI by 1.2% during the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider's stock worth $892,000 after buying an additional 68 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of RLI by 53.8% during the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock worth $33,000 after buying an additional 71 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of RLI by 2.6% during the third quarter. OneDigital Investment Advisors LLC now owns 3,723 shares of the insurance provider's stock worth $577,000 after buying an additional 95 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of RLI by 0.9% during the third quarter. Louisiana State Employees Retirement System now owns 11,500 shares of the insurance provider's stock worth $1,782,000 after buying an additional 100 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

About RLI

(Get Free Report

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.

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