RLI Corp. (NYSE:RLI) Receives Consensus Rating of "Hold" from Brokerages

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

Several analysts have commented on RLI shares. JMP Securities reiterated a "market perform" rating on shares of RLI in a research note on Thursday, January 23rd. Compass Point decreased their price target on shares of RLI from $185.00 to $82.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Jefferies Financial Group cut shares of RLI from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $95.00 to $61.00 in a research note on Monday, January 27th. Royal Bank of Canada decreased their price target on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Friday, January 24th. Finally, StockNews.com upgraded shares of RLI from a "sell" rating to a "hold" rating in a research report on Friday, February 21st.

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RLI Stock Up 1.8 %

RLI opened at $75.74 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. RLI has a fifty-two week low of $67.53 and a fifty-two week high of $91.15. The firm's fifty day moving average is $75.58 and its 200 day moving average is $79.33. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 20.22 and a beta of 0.39.

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

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, February 28th. RLI's dividend payout ratio is currently 16.00%.

Insider Activity at RLI

In other news, CEO Craig W. Kliethermes purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, January 24th. The shares were bought at an average cost of $71.35 per share, for a total transaction of $356,750.00. Following the acquisition, the chief executive officer now owns 139,190 shares of the company's stock, valued at approximately $9,931,206.50. This trade represents a 3.73 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey D. Fick purchased 2,000 shares of the business's stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average price of $72.13 per share, for a total transaction of $144,260.00. Following the completion of the acquisition, the insider now directly owns 142,061 shares in the company, valued at $10,246,859.93. The trade was a 1.43 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 11,200 shares of company stock worth $805,774. Insiders own 5.09% of the company's stock.

Hedge Funds Weigh In On RLI

Several hedge funds have recently added to or reduced their stakes in the company. Parr Mcknight Wealth Management Group LLC bought a new position in RLI during the 4th quarter valued at about $1,175,000. Alpine Global Management LLC bought a new position in RLI in the 4th quarter worth about $524,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in RLI by 15.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,118 shares of the insurance provider's stock worth $29,854,000 after acquiring an additional 24,536 shares in the last quarter. Wolverine Trading LLC bought a new position in RLI in the 4th quarter worth about $290,000. Finally, Tidal Investments LLC bought a new position in RLI in the 4th quarter worth about $210,000. 77.89% of the stock is currently owned by institutional investors.

RLI Company Profile

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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