RLI (RLI) – Investment Analysts’ Recent Ratings Changes

RLI (NYSE: RLI) has recently received a number of price target changes and ratings updates:

• 10/16/2024 – RLI is now covered by analysts at Oppenheimer Holdings Inc.. They set a “market perform” rating on the stock.
• 10/9/2024 – RLI is now covered by analysts at Wolfe Research. They set an “outperform” rating and a $182.00 price target on the stock.
• 10/9/2024 – RLI had its price target raised by analysts at Jefferies Financial Group Inc. from $165.00 to $180.00. They now have a “buy” rating on the stock.
• 10/8/2024 – RLI had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $162.00 price target on the stock.

RLI Price Performance

Shares of NYSE RLI opened at $162.09 on Tuesday. The business has a 50-day moving average of $153.93 and a 200-day moving average of $146.85. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 22.11 and a beta of 0.41. RLI Corp. has a fifty-two week low of $125.77 and a fifty-two week high of $164.25.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The firm had revenue of $416.44 million during the quarter, compared to the consensus estimate of $561.60 million. During the same period last year, the company earned $1.16 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that RLI Corp. will post 6.07 EPS for the current year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.72%. RLI’s payout ratio is 15.83%.

Institutional Trading of RLI

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of RLI by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 931,454 shares of the insurance provider’s stock valued at $131,045,000 after purchasing an additional 24,125 shares during the period. Maren Capital LLC lifted its position in shares of RLI by 21.3% in the first quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock valued at $90,876,000 after buying an additional 107,655 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of RLI by 1.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 556,764 shares of the insurance provider’s stock worth $78,331,000 after acquiring an additional 8,454 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of RLI by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 428,331 shares of the insurance provider’s stock worth $60,262,000 after acquiring an additional 1,979 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in RLI by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock valued at $39,400,000 after purchasing an additional 33,435 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

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.