Analysts Set RLI Corp. (RLI) PT at $53.00

Shares of RLI Corp. (NYSE:RLI) have been given an average recommendation of “Hold” by the seven analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $53.00.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of RLI from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. ValuEngine cut shares of RLI from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd.

Shares of RLI traded down $0.34, reaching $67.89, during midday trading on Tuesday, according to Marketbeat. 56,618 shares of the stock were exchanged, compared to its average volume of 126,388. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.35 and a quick ratio of 0.35. RLI has a 52-week low of $50.34 and a 52-week high of $69.74. The company has a market cap of $3.01 billion, a PE ratio of 42.17 and a beta of 1.25.

RLI (NYSE:RLI) last released its earnings results on Wednesday, April 18th. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.07. RLI had a net margin of 12.39% and a return on equity of 9.10%. The business had revenue of $204.26 million for the quarter, compared to analysts’ expectations of $203.31 million. analysts anticipate that RLI will post 2.25 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 20th. Investors of record on Thursday, May 31st were given a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, May 30th. This is a boost from RLI’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.30%. RLI’s dividend payout ratio (DPR) is currently 54.66%.

In other RLI news, Director Michael J. Stone sold 1,423 shares of RLI stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $65.74, for a total transaction of $93,548.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kaj Ahlmann sold 1,005 shares of RLI stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $63.79, for a total transaction of $64,108.95. The disclosure for this sale can be found here. Insiders sold 18,998 shares of company stock worth $1,215,923 over the last three months. Corporate insiders own 6.09% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Port Capital LLC lifted its position in RLI by 0.8% during the second quarter. Port Capital LLC now owns 325,919 shares of the insurance provider’s stock valued at $21,573,000 after buying an additional 2,500 shares in the last quarter. Private Vista LLC lifted its position in RLI by 49.9% during the first quarter. Private Vista LLC now owns 26,412 shares of the insurance provider’s stock valued at $1,674,000 after buying an additional 8,792 shares in the last quarter. Principal Financial Group Inc. lifted its position in RLI by 3.2% during the first quarter. Principal Financial Group Inc. now owns 304,072 shares of the insurance provider’s stock valued at $19,275,000 after buying an additional 9,483 shares in the last quarter. Front Row Advisors LLC lifted its position in RLI by 10.6% during the first quarter. Front Row Advisors LLC now owns 11,990 shares of the insurance provider’s stock valued at $760,000 after buying an additional 1,150 shares in the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in RLI by 54.8% during the first quarter. Xact Kapitalforvaltning AB now owns 5,930 shares of the insurance provider’s stock valued at $376,000 after buying an additional 2,100 shares in the last quarter. 85.41% of the stock is currently owned by hedge funds and other institutional investors.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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, real estate investment trusts, and mercantile.

Recommended Story: What are Closed-End Mutual Funds?

Receive News & Ratings for RLI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLI and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply