RLI (NYSE:RLI) Hits New 12-Month Low – Should You Sell?

Shares of RLI Corp. (NYSE:RLI) reached a new 52-week low during trading on Tuesday . The stock traded as low as $50.61 and last traded at $50.7410, with a volume of 915780 shares changing hands. The stock had previously closed at $51.50.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RLI. Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Jefferies Financial Group upgraded shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target on the stock in a research report on Friday, January 23rd. Wells Fargo & Company lowered their price target on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of RLI in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.50.

RLI Stock Down 2.0%

The firm has a market cap of $4.51 billion, a PE ratio of 11.47 and a beta of 0.42. The firm’s 50 day moving average is $58.14 and its 200-day moving average is $60.42.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.10. The business had revenue of $423.87 million for the quarter, compared to the consensus estimate of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 earnings per share. On average, analysts forecast that RLI Corp. will post 2.7 earnings per share for the current year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.64 annualized dividend and a dividend yield of 1.3%. RLI’s dividend payout ratio is presently 14.95%.

Hedge Funds Weigh In On RLI

Institutional investors and hedge funds have recently modified their holdings of the company. Chatham Capital Group Inc. raised its stake in RLI by 0.7% during the fourth quarter. Chatham Capital Group Inc. now owns 26,460 shares of the insurance provider’s stock worth $1,693,000 after purchasing an additional 180 shares during the period. Covestor Ltd raised its stake in RLI by 13.0% during the fourth quarter. Covestor Ltd now owns 1,590 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 183 shares during the period. Allworth Financial LP raised its stake in RLI by 5.3% during the third quarter. Allworth Financial LP now owns 3,760 shares of the insurance provider’s stock worth $245,000 after purchasing an additional 189 shares during the period. Farther Finance Advisors LLC raised its stake in RLI by 94.4% during the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 201 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in RLI by 0.3% during the third quarter. Public Employees Retirement System of Ohio now owns 75,502 shares of the insurance provider’s stock worth $4,924,000 after purchasing an additional 207 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.