RLI (NYSE:RLI) Upgraded to Hold at Wells Fargo & Company

Wells Fargo & Company upgraded shares of RLI (NYSE:RLI) to a hold rating in a report issued on Thursday morning, MarketBeat Ratings reports. Wells Fargo & Company currently has $62.00 price objective on the insurance provider’s stock.

Several other equities analysts also recently weighed in on RLI. Truist Financial set a $62.00 target price on shares of RLI and gave the company a “hold” rating in a report on Friday, October 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, RLI has an average rating of “Hold” and an average target price of $70.33.

RLI Trading Down 1.5%

Shares of RLI opened at $59.29 on Thursday. RLI has a twelve month low of $57.75 and a twelve month high of $81.79. The firm has a market capitalization of $5.44 billion, a P/E ratio of 15.56 and a beta of 0.54. The firm’s 50-day moving average is $63.02 and its two-hundred day moving average is $64.88. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.05.

RLI (NYSE:RLI) last posted its earnings results on Monday, October 20th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The company had revenue of $509.26 million for the quarter, compared to the consensus estimate of $444.75 million. During the same period in the previous year, the business earned $1.31 earnings per share. On average, research analysts predict that RLI will post 3.08 earnings per share for the current fiscal year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 28th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 28th. RLI’s payout ratio is presently 16.80%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Frank Rimerman Advisors LLC purchased a new stake in shares of RLI in the fourth quarter valued at $268,000. Chatham Capital Group Inc. boosted its stake in RLI by 0.7% in the 4th quarter. Chatham Capital Group Inc. now owns 26,460 shares of the insurance provider’s stock worth $1,693,000 after buying an additional 180 shares during the last quarter. Nepsis Inc. grew its holdings in RLI by 45.2% in the 4th quarter. Nepsis Inc. now owns 289,191 shares of the insurance provider’s stock valued at $18,502,000 after buying an additional 89,969 shares during the period. Petros Family Wealth LLC purchased a new stake in RLI in the 4th quarter valued at about $200,000. Finally, Curated Wealth Partners LLC increased its stake in shares of RLI by 70.6% during the 4th quarter. Curated Wealth Partners LLC now owns 10,431 shares of the insurance provider’s stock valued at $667,000 after acquiring an additional 4,316 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Company Profile

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.