RLI (NYSE:RLI) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

RLI Corp. (NYSE:RLI - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $153.44 and traded as high as $171.69. RLI shares last traded at $169.54, with a volume of 165,046 shares.

Wall Street Analyst Weigh In

RLI has been the subject of several analyst reports. Wolfe Research initiated coverage on RLI in a report on Wednesday, October 9th. They issued an "outperform" rating and a $182.00 target price for the company. Compass Point upped their price objective on RLI from $170.00 to $185.00 and gave the company a "buy" rating in a report on Friday, October 25th. Jefferies Financial Group raised their target price on RLI from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Oppenheimer began coverage on RLI in a research note on Wednesday, October 16th. They issued a "market perform" rating on the stock. Finally, Royal Bank of Canada raised their price objective on RLI from $162.00 to $165.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $177.40.

RLI Stock Up 0.7 %

The firm has a 50-day moving average price of $166.74 and a 200 day moving average price of $153.55. The firm has a market capitalization of $7.82 billion, a PE ratio of 18.81 and a beta of 0.46.

Shares of RLI 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 issued to shareholders after the market closes on Wednesday, January 15th.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.33. The business had revenue of $470.00 million for the quarter, compared to analysts' expectations of $491.54 million. RLI had a net margin of 23.77% and a return on equity of 19.03%. The business's quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. Equities research analysts expect that RLI Corp. will post 5.85 earnings per share for the current year.

RLI Increases Dividend

The firm also recently declared a None dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be given a $4.29 dividend. This represents a yield of 0.7%. The ex-dividend date is Friday, November 29th. This is a boost from RLI's previous None dividend of $2.25. RLI's dividend payout ratio (DPR) is currently 12.75%.

Institutional Trading of RLI

A number of large investors have recently modified their holdings of RLI. SG Americas Securities LLC acquired a new position in RLI during the 2nd quarter worth $151,000. Blue Trust Inc. increased its stake in shares of RLI by 239.3% during the second quarter. Blue Trust Inc. now owns 906 shares of the insurance provider's stock worth $135,000 after buying an additional 639 shares during the period. Raymond James & Associates increased its stake in shares of RLI by 0.9% during the second quarter. Raymond James & Associates now owns 71,442 shares of the insurance provider's stock worth $10,051,000 after buying an additional 628 shares during the period. American National Bank acquired a new stake in RLI in the second quarter valued at approximately $35,000. Finally, Laurus Investment Counsel Inc. purchased a new position in RLI in the second quarter worth approximately $944,000. Hedge funds and other institutional investors own 77.89% of the company's stock.

About RLI

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.