Brokerages Set RLI Corp. (NYSE:RLI) Price Target at $72.80

Shares of RLI Corp. (NYSE:RLI) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $72.80.

Several equities research analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. Truist Financial set a $62.00 price target on shares of RLI and gave the company a “hold” rating in a research note on Friday, October 3rd.

Institutional Trading of RLI

Several institutional investors and hedge funds have recently bought and sold shares of RLI. Kayne Anderson Rudnick Investment Management LLC lifted its stake in RLI by 117.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider’s stock worth $419,869,000 after acquiring an additional 2,817,616 shares in the last quarter. Wasatch Advisors LP purchased a new stake in RLI during the second quarter worth about $84,608,000. Norges Bank acquired a new stake in shares of RLI during the second quarter worth about $74,533,000. Dimensional Fund Advisors LP lifted its position in shares of RLI by 97.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider’s stock worth $149,569,000 after purchasing an additional 920,799 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of RLI by 155.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,488,514 shares of the insurance provider’s stock valued at $119,573,000 after purchasing an additional 906,375 shares during the period. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

RLI Stock Up 1.0%

Shares of NYSE RLI opened at $66.07 on Monday. The stock has a market cap of $6.07 billion, a PE ratio of 17.34 and a beta of 0.56. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.05. RLI has a 12-month low of $57.75 and a 12-month high of $84.71. The company has a 50-day moving average of $62.23 and a 200 day moving average of $66.47.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.62 by $0.21. The firm had revenue of $509.26 million during the quarter, compared to analysts’ expectations of $444.75 million. RLI had a return on equity of 16.51% and a net margin of 19.02%.During the same quarter last year, the firm earned $1.31 earnings per share. As a group, sell-side analysts predict that RLI will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. RLI’s dividend payout ratio is currently 16.80%.

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.