RLI Corp. (NYSE:RLI) Receives Consensus Rating of “Hold” from Analysts

RLI Corp. (NYSE:RLI) has been assigned an average recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $82.80.

RLI has been the topic of a number of recent analyst reports. Compass Point decreased their target price on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their target price on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Jefferies Financial Group cut RLI from a “buy” rating to an “underperform” rating and decreased their target price for the company from $95.00 to $61.00 in a research report on Monday, January 27th. Finally, Royal Bank of Canada reduced their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th.

Insider Transactions at RLI

In related news, insider Jeffrey D. Fick bought 2,000 shares of RLI stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average cost of $72.13 per share, for a total transaction of $144,260.00. Following the completion of the acquisition, the insider now directly owns 142,061 shares of the company’s stock, valued at approximately $10,246,859.93. The trade was a 1.43 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Stone sold 400 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the completion of the sale, the director now owns 429,622 shares in the company, valued at $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 11,200 shares of company stock worth $805,774. Insiders own 5.09% of the company’s stock.

Institutional Trading of RLI

Several institutional investors have recently added to or reduced their stakes in the stock. Parr Mcknight Wealth Management Group LLC bought a new stake in RLI in the fourth quarter valued at approximately $1,175,000. Alpine Global Management LLC acquired a new position in RLI in the fourth quarter valued at approximately $524,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in RLI by 15.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,118 shares of the insurance provider’s stock valued at $29,854,000 after buying an additional 24,536 shares during the period. Wolverine Trading LLC acquired a new position in RLI in the fourth quarter valued at approximately $290,000. Finally, Tidal Investments LLC acquired a new position in RLI in the fourth quarter valued at approximately $210,000. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Down 0.1 %

RLI opened at $74.59 on Tuesday. The company has a market capitalization of $6.84 billion, a P/E ratio of 19.92 and a beta of 0.46. The stock has a fifty day moving average of $77.81 and a 200-day moving average of $79.20. RLI has a fifty-two week low of $67.53 and a fifty-two week high of $91.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34.

RLI (NYSE:RLI) last posted 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%. On average, equities analysts expect that RLI will post 3.08 EPS for the current year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.15 per share. This is a boost from RLI’s previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, February 28th. RLI’s payout ratio is 15.49%.

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.