RLI (NYSE:RLI) Stock Price Crosses Above 200-Day Moving Average - Here's Why

RLI Corp. (NYSE:RLI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $150.10 and traded as high as $175.04. RLI shares last traded at $174.76, with a volume of 134,248 shares.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RLI shares. Compass Point upped their target price on RLI from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised their price target on RLI from $169.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. Oppenheimer started coverage on RLI in a research note on Wednesday, October 16th. They set a "market perform" rating for the company. Royal Bank of Canada boosted 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, RLI has an average rating of "Moderate Buy" and a consensus target price of $177.40.

RLI Stock Up 0.2 %

The firm's 50 day moving average is $159.64 and its 200 day moving average is $150.32. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 19.20 and a beta of 0.41.

RLI's stock is set to split on the morning of Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly created shares will be payable to shareholders after the market closes on Wednesday, January 15th.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 EPS for the quarter, topping 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 business had revenue of $470.00 million for the quarter, compared to analyst estimates of $491.54 million. During the same period last year, the firm earned $0.61 earnings per share. RLI's revenue for the quarter was up 41.7% compared to the same quarter last year. On average, sell-side analysts predict that RLI Corp. will post 5.85 earnings per share for the current year.

RLI Increases Dividend

The business also recently disclosed a None dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a dividend of $4.29 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from RLI's previous None dividend of $2.25. RLI's dividend payout ratio is 12.75%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RLI. Jacobs Levy Equity Management Inc. raised its position in shares of RLI by 237.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider's stock worth $30,864,000 after acquiring an additional 146,324 shares in the last quarter. NFJ Investment Group LLC purchased a new stake in shares of RLI in the 3rd quarter valued at about $9,931,000. Wellington Management Group LLP purchased a new position in shares of RLI during the 3rd quarter worth approximately $9,458,000. State Street Corp grew its holdings in RLI by 1.3% during the 3rd quarter. State Street Corp now owns 4,393,250 shares of the insurance provider's stock valued at $680,866,000 after buying an additional 58,167 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in RLI by 5.9% in the third quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider's stock valued at $140,817,000 after purchasing an additional 50,654 shares during the period. 77.89% of the stock is owned by hedge funds and other 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.