RLI (NYSE:RLI) Stock Crosses Above 200 Day Moving Average - Time to Sell?

RLI Corp. (NYSE:RLI - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $156.53 and traded as high as $160.59. RLI shares last traded at $156.32, with a volume of 239,047 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Oppenheimer started coverage on shares of RLI in a research report on Wednesday, October 16th. They issued a "market perform" rating for the company. Compass Point boosted their price objective 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 began coverage on RLI in a research report on Wednesday, October 9th. They issued an "outperform" rating and a $182.00 price objective on the stock. Jefferies Financial Group boosted their target price on RLI from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada raised their price target on RLI from $162.00 to $165.00 and gave the company a "sector perform" rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $177.40.

RLI Stock Down 2.2 %

The business has a fifty day moving average of $169.19 and a 200 day moving average of $156.63. The firm has a market cap of $7.01 billion, a P/E ratio of 16.80 and a beta of 0.47.

RLI shares are set to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly created shares will be issued to shareholders after the closing bell on Wednesday, January 15th.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.33. RLI had a net margin of 23.77% and a return on equity of 19.03%. The firm had revenue of $470.00 million for the quarter, compared to analyst estimates of $491.54 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The business's revenue was up 41.7% on a year-over-year basis. On average, sell-side analysts expect that RLI Corp. will post 5.85 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently declared a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a dividend of $4.29 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a yield of 0.7%. This is an increase from RLI's previous None dividend of $2.25. RLI's dividend payout ratio is 12.75%.

Insider Activity

In other RLI news, Director Michael J. Stone sold 200 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $169.55, for a total value of $33,910.00. Following the completion of the transaction, the director now directly owns 214,811 shares in the company, valued at $36,421,205.05. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.91% of the stock is owned by corporate insiders.

Institutional Trading of RLI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of RLI by 620.0% during the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider's stock worth $28,000 after purchasing an additional 155 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in RLI during the third quarter worth approximately $32,000. Versant Capital Management Inc raised its stake in RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock valued at $33,000 after buying an additional 71 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of RLI by 76.9% during 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 period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider's stock worth $37,000 after acquiring an additional 77 shares during the period. 77.89% of the stock is owned by institutional investors.

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.