RLI (NYSE:RLI) Hits New 12-Month Low – Should You Sell?

RLI Corp. (NYSE:RLI) reached a new 52-week low on Monday . The stock traded as low as $48.45 and last traded at $48.69, with a volume of 522032 shares changing hands. The stock had previously closed at $49.05.

Analyst Ratings Changes

RLI has been the subject of several research reports. Truist Financial set a $58.00 target price on RLI in a research report on Friday, January 23rd. Keefe, Bruyette & Woods raised RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Jefferies Financial Group upgraded RLI from an “underperform” rating to a “hold” rating and set a $52.00 price objective for the company in a research note on Friday, January 23rd. Zacks Research upgraded RLI from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of RLI in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, RLI has a consensus rating of “Hold” and an average target price of $61.50.

RLI Trading Down 1.4%

The firm has a 50 day moving average price of $57.91 and a 200-day moving average price of $60.35. The firm has a market cap of $4.45 billion, a PE ratio of 11.30 and a beta of 0.42.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.10. The business had revenue of $423.87 million during the quarter, compared to analysts’ expectations of $564.47 million. RLI had a return on equity of 17.72% and a net margin of 20.81%.The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Equities analysts forecast that RLI Corp. will post 2.7 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a dividend of $0.16 per share. The ex-dividend date was Monday, March 2nd. This represents a $0.64 annualized dividend and a yield of 1.3%. RLI’s payout ratio is presently 14.95%.

Institutional Investors Weigh In On RLI

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in RLI by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 9,448,929 shares of the insurance provider’s stock worth $604,542,000 after purchasing an additional 310,857 shares during the last quarter. State Street Corp lifted its stake in RLI by 1.4% during the fourth quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock worth $567,823,000 after purchasing an additional 124,687 shares during the last quarter. Wasatch Advisors LP lifted its stake in RLI by 33.1% during the first quarter. Wasatch Advisors LP now owns 2,579,955 shares of the insurance provider’s stock worth $147,161,000 after purchasing an additional 641,769 shares during the last quarter. Geode Capital Management LLC lifted its stake in RLI by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,191,891 shares of the insurance provider’s stock worth $140,260,000 after purchasing an additional 67,025 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in RLI by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,920,823 shares of the insurance provider’s stock worth $109,567,000 after purchasing an additional 21,299 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

About RLI

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.