Brokerages Set RLI Corp. (NYSE:RLI) Target Price at $65.20

Shares of RLI Corp. (NYSE:RLI) have been assigned an average rating of “Hold” from the nine research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $65.20.

A number of research firms have issued reports on RLI. Jefferies Financial Group raised RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target on the stock in a research report on Friday, January 23rd. Truist Financial set a $58.00 target price on shares of RLI in a research note on Friday, January 23rd. Wells Fargo & Company set a $59.00 price target on shares of RLI and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods lowered their price target on shares of RLI from $85.00 to $81.00 and set an “outperform” rating for the company in a report on Tuesday, January 6th. Finally, Zacks Research lowered shares of RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th.

RLI Stock Performance

Shares of RLI stock opened at $61.73 on Tuesday. The firm has a 50 day moving average of $61.74 and a two-hundred day moving average of $63.61. The stock has a market capitalization of $5.67 billion, a PE ratio of 14.16 and a beta of 0.53. The company has a quick ratio of 0.35, a current ratio of 0.32 and a debt-to-equity ratio of 0.05. RLI has a 52 week low of $55.80 and a 52 week high of $81.79.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.18. The business had revenue of $465.69 million for the quarter, compared to analyst estimates of $447.53 million. RLI had a return on equity of 18.67% and a net margin of 21.43%.During the same quarter in the prior year, the company earned $0.41 earnings per share. On average, research analysts predict that RLI will post 3.08 EPS for the current fiscal year.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, November 28th were paid a $0.16 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. RLI’s dividend payout ratio (DPR) is currently 14.68%.

Insider Transactions at RLI

In other RLI news, CEO Craig W. Kliethermes acquired 5,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was acquired at an average cost of $57.45 per share, with a total value of $287,250.00. Following the transaction, the chief executive officer owned 143,990 shares in the company, valued at $8,272,225.50. The trade was a 3.60% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer L. Klobnak acquired 2,000 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was acquired at an average price of $57.99 per share, for a total transaction of $115,980.00. Following the acquisition, the chief operating officer owned 100,318 shares in the company, valued at approximately $5,817,440.82. The trade was a 2.03% increase in their position. The SEC filing for this purchase provides additional information. 2.16% of the stock is owned by insiders.

Institutional Trading of RLI

Several institutional investors have recently modified their holdings of the stock. Legato Capital Management LLC acquired a new position in shares of RLI in the 4th quarter valued at $526,000. Van Hulzen Asset Management LLC lifted its position in RLI by 98.2% in the fourth quarter. Van Hulzen Asset Management LLC now owns 30,046 shares of the insurance provider’s stock valued at $1,922,000 after acquiring an additional 14,886 shares during the last quarter. Global Retirement Partners LLC boosted its stake in RLI by 371.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,368 shares of the insurance provider’s stock valued at $88,000 after acquiring an additional 1,078 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of RLI by 85.9% during the fourth quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 316 shares during the last quarter. Finally, Quantum Private Wealth LLC increased its position in shares of RLI by 14.3% during the fourth quarter. Quantum Private Wealth LLC now owns 5,832 shares of the insurance provider’s stock worth $373,000 after purchasing an additional 730 shares in 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.