RLI Corp (RLI) Given Consensus Rating of “Hold” by Analysts

RLI Corp (NYSE:RLI) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $67.25.

Several equities analysts have recently weighed in on RLI shares. TheStreet lowered shares of RLI from a “b” rating to a “c” rating in a research report on Wednesday, January 23rd. Zacks Investment Research upgraded shares of RLI from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Tuesday, February 12th.

In other RLI news, Director Michael J. Stone sold 1,437 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $71.55, for a total transaction of $102,817.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Stone sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were 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. In the last 90 days, insiders have sold 26,437 shares of company stock valued at $1,995,067. Insiders own 5.01% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Murphy Pohlad Asset Management LLC purchased a new stake in RLI during the fourth quarter valued at about $27,000. Intercontinental Wealth Advisors LLC purchased a new stake in RLI during the fourth quarter valued at about $47,000. One Wealth Advisors LLC purchased a new stake in RLI during the first quarter valued at about $78,000. Quadrant Capital Group LLC purchased a new stake in RLI during the first quarter valued at about $80,000. Finally, Contravisory Investment Management Inc. purchased a new stake in RLI during the first quarter valued at about $124,000. 89.81% of the stock is owned by institutional investors.

Shares of RLI opened at $84.17 on Monday. The stock has a market capitalization of $3.75 billion, a P/E ratio of 41.06 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.38 and a quick ratio of 0.38. RLI has a 52-week low of $64.48 and a 52-week high of $84.94.

RLI (NYSE:RLI) last announced its earnings results on Wednesday, April 17th. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.12. The firm had revenue of $221.25 million during the quarter. RLI had a net margin of 13.11% and a return on equity of 11.36%. Equities research analysts expect that RLI will post 2.33 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, May 31st will be given a dividend of $0.23 per share. This is a positive change from RLI’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, May 30th. This represents a $0.92 annualized dividend and a dividend yield of 1.09%. RLI’s dividend payout ratio (DPR) is 42.93%.

About RLI

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.

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