RLI Corp. (NYSE:RLI) Receives Consensus Recommendation of “Hold” from Brokerages

RLI Corp. (NYSE:RLI) has earned an average rating of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $65.20.

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, February 24th. Jefferies Financial Group raised shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 price target on the stock in a research note on Friday, January 23rd. Zacks Research lowered shares of RLI from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Wells Fargo & Company set a $59.00 price objective on shares of RLI and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, Truist Financial set a $58.00 price objective on shares of RLI in a report on Friday, January 23rd.

RLI Price Performance

RLI stock traded up $0.38 during trading on Friday, hitting $61.72. 579,701 shares of the company traded hands, compared to its average volume of 721,279. The stock’s 50-day simple moving average is $60.75 and its 200 day simple moving average is $62.89. RLI has a 1 year low of $55.80 and a 1 year high of $81.79. The company has a market cap of $5.67 billion, a PE ratio of 14.16 and a beta of 0.50.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.18. The company had revenue of $465.69 million during the quarter, compared to analysts’ expectations of $447.53 million. RLI had a net margin of 21.43% and a return on equity of 18.67%. During the same quarter in the previous year, the company earned $0.41 earnings per share. Research analysts expect that RLI will post 3.08 earnings per share for the current year.

RLI Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, March 2nd. 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 Activity

In other news, CEO Craig W. Kliethermes acquired 5,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were bought at an average cost of $57.45 per share, for a total transaction of $287,250.00. Following the acquisition, the chief executive officer owned 143,990 shares in the company, valued at approximately $8,272,225.50. This represents a 3.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer L. Klobnak bought 2,000 shares of RLI stock in a transaction on Friday, January 23rd. The shares were purchased at an average cost of $57.99 per share, with a total value of $115,980.00. Following the acquisition, the chief operating officer directly owned 100,318 shares of the company’s stock, valued at approximately $5,817,440.82. The trade was a 2.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RLI. Vanguard Group Inc. boosted its stake in RLI by 3.4% during the 4th 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 shares of RLI by 1.4% in the fourth quarter. State Street Corp now owns 8,875,002 shares of the insurance provider’s stock worth $567,823,000 after buying an additional 124,687 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of RLI by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 2,191,891 shares of the insurance provider’s stock worth $140,260,000 after buying an additional 67,025 shares in the last quarter. Wasatch Advisors LP boosted its position in RLI by 65.3% during the fourth quarter. Wasatch Advisors LP now owns 1,938,186 shares of the insurance provider’s stock worth $124,005,000 after acquiring an additional 765,344 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in RLI by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,899,524 shares of the insurance provider’s stock worth $121,536,000 after acquiring an additional 112,541 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

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.