RLI Corp. (NYSE:RLI) Receives $163.25 Consensus Price Target from Brokerages

RLI Corp. (NYSE:RLI) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $163.25.

A number of equities research analysts recently commented on RLI shares. Compass Point lifted their price target on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada lifted their price target on shares of RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on shares of RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, JMP Securities reissued a “market perform” rating on shares of RLI in a report on Tuesday.

RLI Stock Performance

Shares of RLI opened at $144.15 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.38. The stock has a 50-day moving average of $144.77 and a 200-day moving average of $139.01. The company has a market cap of $6.59 billion, a PE ratio of 19.91 and a beta of 0.37. RLI has a one year low of $123.04 and a one year high of $149.20.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. The business had revenue of $444.80 million during the quarter, compared to the consensus estimate of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. The company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. On average, equities research analysts predict that RLI will post 5.64 EPS for the current fiscal year.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were paid a $0.27 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 dividend on an annualized basis and a yield of 0.75%. RLI’s dividend payout ratio is presently 14.92%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new position in shares of RLI during the fourth quarter valued at about $25,000. Gladius Capital Management LP boosted its holdings in shares of RLI by 129.7% during the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 153 shares during the period. GAMMA Investing LLC purchased a new stake in shares of RLI during the fourth quarter worth about $41,000. Riverview Trust Co purchased a new stake in shares of RLI during the first quarter worth about $44,000. Finally, Quantbot Technologies LP purchased a new stake in shares of RLI during the third quarter worth about $60,000. Institutional investors own 77.89% of the company’s stock.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance. 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, and mercantile.