RLI Corp. (NYSE:RLI - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $181.64 and last traded at $180.89, with a volume of 167709 shares traded. The stock had previously closed at $179.76.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on RLI from $162.00 to $165.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 23rd. Compass Point boosted their target price on shares of RLI from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Wolfe Research initiated coverage on shares of RLI in a report on Wednesday, October 9th. They set an "outperform" rating and a $182.00 price target for the company. Jefferies Financial Group boosted their price objective on shares of RLI from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Oppenheimer initiated coverage on RLI in a research note on Wednesday, October 16th. They set a "market perform" rating for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $177.40.
View Our Latest Stock Report on RLI
RLI Stock Performance
The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 19.88 and a beta of 0.41. The business's 50 day moving average price is $162.35 and its 200-day moving average price is $151.43.
RLI shares are going to split on the morning of Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, January 15th.
RLI (NYSE:RLI - Get Free Report) last posted its earnings results on Monday, October 21st. The insurance provider reported $1.31 EPS for the quarter, beating the consensus estimate of $0.98 by $0.33. RLI had a return on equity of 19.03% and a net margin of 23.77%. The company had revenue of $470.00 million during the quarter, compared to analyst estimates of $491.54 million. During the same period in the prior year, the company earned $0.61 earnings per share. The business's revenue was up 41.7% compared to the same quarter last year. On average, analysts forecast that RLI Corp. will post 5.85 earnings per share for the current fiscal year.
RLI Increases Dividend
The firm also recently disclosed a None dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a $4.29 dividend. This represents a yield of 0.7%. This is a positive change from RLI's previous None dividend of $2.25. The ex-dividend date of this dividend is Friday, November 29th. RLI's dividend payout ratio is 12.75%.
Hedge Funds Weigh In On RLI
Institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC lifted its holdings in RLI by 12.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,034 shares of the insurance provider's stock valued at $935,000 after acquiring an additional 691 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of RLI by 2.3% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,545 shares of the insurance provider's stock worth $704,000 after purchasing an additional 103 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of RLI by 4.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 13,649 shares of the insurance provider's stock valued at $2,116,000 after acquiring an additional 571 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of RLI by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider's stock worth $140,817,000 after acquiring an additional 50,654 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider's stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 77.89% of the company's stock.
RLI Company Profile
(
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.
Further Reading
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