Analysts Set RLI Corp. (NYSE:RLI) Price Target at $82.80

RLI Corp. (NYSE:RLI) has been given an average rating of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $82.80.

A number of brokerages have weighed in on RLI. StockNews.com upgraded RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Compass Point decreased their price objective on shares of RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Keefe, Bruyette & Woods lowered their target price on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada dropped their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th.

RLI Price Performance

Shares of NYSE:RLI opened at $76.31 on Friday. The company has a 50 day moving average of $75.46 and a 200 day moving average of $79.32. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock has a market cap of $7.00 billion, a P/E ratio of 20.38 and a beta of 0.39. RLI has a 12 month low of $67.53 and a 12 month high of $91.15.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 EPS 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%. As a group, sell-side analysts forecast that RLI will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.79%. This is a positive change from RLI’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 28th. RLI’s dividend payout ratio is presently 16.00%.

Insider Transactions at RLI

In related news, insider Jeffrey D. Fick purchased 2,000 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were acquired at an average cost of $72.13 per share, with a total value of $144,260.00. Following the purchase, the insider now directly owns 142,061 shares of the company’s stock, valued at approximately $10,246,859.93. This trade represents a 1.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael E. Angelina acquired 2,200 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were bought at an average cost of $72.62 per share, with a total value of $159,764.00. Following the purchase, the director now owns 23,514 shares of the company’s stock, valued at approximately $1,707,586.68. This trade represents a 10.32 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,200 shares of company stock worth $805,774. Company insiders own 5.09% of the company’s stock.

Hedge Funds Weigh In On RLI

A number of hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of RLI in the fourth quarter worth about $31,000. Versant Capital Management Inc grew its position in shares of RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after buying an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of RLI by 76.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after buying an additional 100 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of RLI during the fourth quarter valued at approximately $56,000. Finally, EverSource Wealth Advisors LLC lifted its stake in RLI by 47.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after acquiring an additional 159 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

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.