RLI Corp (RLI) Receives $63.50 Consensus Price Target from Brokerages

Shares of RLI Corp (NYSE:RLI) have been given an average recommendation of “Hold” by the seven research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $63.50.

Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of RLI from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Tuesday, February 12th. TheStreet downgraded shares of RLI from a “b” rating to a “c” rating in a report on Wednesday, January 23rd. Finally, Compass Point assumed coverage on shares of RLI in a report on Tuesday, January 15th. They set a “sell” rating and a $48.00 target price for the company.

In other RLI news, Director Michael J. Stone sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $65.43, for a total transaction of $261,720.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael J. Stone sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $70.44, for a total transaction of $704,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,977 shares of company stock worth $1,172,225 over the last ninety days. 5.01% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in RLI. Norges Bank acquired a new stake in shares of RLI during the 4th quarter worth about $22,559,000. Vaughan David Investments LLC IL boosted its position in shares of RLI by 10.9% in the fourth quarter. Vaughan David Investments LLC IL now owns 2,060,676 shares of the insurance provider’s stock worth $142,166,000 after acquiring an additional 202,389 shares during the last quarter. BlackRock Inc. boosted its position in shares of RLI by 3.6% in the third quarter. BlackRock Inc. now owns 5,691,605 shares of the insurance provider’s stock worth $447,246,000 after acquiring an additional 198,988 shares during the last quarter. Vanguard Group Inc boosted its position in shares of RLI by 2.0% in the third quarter. Vanguard Group Inc now owns 4,597,534 shares of the insurance provider’s stock worth $361,274,000 after acquiring an additional 90,178 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of RLI by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,597,534 shares of the insurance provider’s stock worth $361,274,000 after acquiring an additional 90,178 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Shares of RLI traded down $0.75 during trading hours on Friday, reaching $70.48. The company had a trading volume of 820 shares, compared to its average volume of 126,125. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $3.20 billion, a PE ratio of 34.47 and a beta of 0.93. RLI has a 12-month low of $61.56 and a 12-month high of $79.98.

RLI (NYSE:RLI) last announced its quarterly earnings results on Wednesday, January 23rd. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.24. The business had revenue of $220.96 million during the quarter, compared to the consensus estimate of $217.97 million. RLI had a net margin of 7.84% and a return on equity of 10.96%. During the same quarter last year, the firm posted $1.21 EPS. On average, research analysts anticipate that RLI will post 2.25 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Thursday, February 28th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, February 27th. This represents a $0.88 annualized dividend and a dividend yield of 1.25%. RLI’s dividend payout ratio is currently 42.93%.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.

Further Reading: Diversification in Investing

Receive News & Ratings for RLI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLI and related companies with MarketBeat.com's FREE daily email newsletter.