Brokerages Set RLI Corp. (NYSE:RLI) Price Target at $166.25

RLI Corp. (NYSE:RLI) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $166.25.

RLI has been the topic of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $155.00 target price on shares of RLI in a report on Wednesday, July 24th. JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Compass Point lowered their target price on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group cut their price target on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th.

RLI Stock Performance

NYSE RLI opened at $154.06 on Friday. RLI has a 52 week low of $125.77 and a 52 week high of $155.59. The stock’s 50 day moving average price is $149.10 and its two-hundred day moving average price is $145.37. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 21.28 and a beta of 0.41.

RLI (NYSE:RLI) last announced its earnings results on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.33%. The business had revenue of $416.44 million during the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter in the prior year, the company posted $1.16 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that RLI will post 6.14 EPS for the current year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 0.75%. RLI’s dividend payout ratio is currently 16.02%.

Institutional Trading of RLI

A number of hedge funds have recently modified their holdings of RLI. American National Bank acquired a new stake in RLI during the second quarter worth approximately $35,000. EverSource Wealth Advisors LLC boosted its stake in RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the period. Riverview Trust Co acquired a new position in RLI in the 1st quarter valued at $44,000. Intelligent Financial Strategies acquired a new position in RLI in the 1st quarter valued at $45,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in RLI by 468.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock worth $46,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds 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.