RLI Corp. (NYSE:RLI) Receives $82.80 Consensus Target Price from Brokerages

Shares of RLI Corp. (NYSE:RLI) have been given an average rating of “Hold” by the seven analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $82.80.

RLI has been the topic of a number of research analyst reports. Compass Point cut their price target on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Jefferies Financial Group cut RLI from a “buy” rating to an “underperform” rating and cut their price target for the stock from $95.00 to $61.00 in a report on Monday, January 27th. JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Royal Bank of Canada cut their target price on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Finally, StockNews.com upgraded RLI from a “sell” rating to a “hold” rating in a report on Friday, February 21st.

RLI Stock Performance

RLI stock opened at $76.67 on Friday. The business has a 50 day moving average of $75.50 and a 200-day moving average of $79.38. RLI has a 1 year low of $67.53 and a 1 year high of $91.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38. The company has a market capitalization of $7.04 billion, a P/E ratio of 20.47 and a beta of 0.39.

RLI (NYSE:RLI) last released its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. On average, equities research analysts predict that RLI will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, February 28th. This is a positive change from RLI’s previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. RLI’s dividend payout ratio (DPR) is currently 16.00%.

Insider Buying and Selling

In related news, CEO Craig W. Kliethermes bought 5,000 shares of RLI stock in a transaction on Friday, January 24th. The stock was acquired at an average price of $71.35 per share, with a total value of $356,750.00. Following the acquisition, the chief executive officer now directly owns 139,190 shares of the company’s stock, valued at $9,931,206.50. This represents a 3.73 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jordan W. Graham sold 1,500 shares of RLI stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total value of $112,155.00. Following the transaction, the director now directly owns 12,854 shares of the company’s stock, valued at $961,093.58. The trade was a 10.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 11,200 shares of company stock valued at $805,774. 5.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in shares of RLI during the 4th quarter valued at about $31,000. Versant Capital Management Inc boosted its position in shares of RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of RLI by 76.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of RLI during the 4th quarter valued at about $56,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of RLI by 47.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $82,000 after acquiring an additional 159 shares during the last quarter. Hedge funds and other institutional investors 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.