RLI (NYSE:RLI) Earns “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of RLI (NYSE:RLI) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $162.00 price objective on the insurance provider’s stock.

A number of other research firms have also recently commented on RLI. Jefferies Financial Group cut their price objective on RLI from $170.00 to $165.00 and set a buy rating for the company in a research report on Friday, June 14th. Compass Point cut their price objective on RLI from $175.00 to $170.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods boosted their price objective on RLI from $169.00 to $175.00 and gave the company an outperform rating in a research report on Monday, July 29th. Finally, JMP Securities restated a market perform rating on shares of RLI in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, RLI currently has an average rating of Moderate Buy and an average price target of $173.80.

RLI Stock Up 0.3 %

Shares of RLI stock opened at $157.51 on Tuesday. The firm has a market cap of $7.21 billion, a PE ratio of 21.49 and a beta of 0.41. RLI has a twelve month low of $125.77 and a twelve month high of $160.47. The business has a 50-day moving average price of $151.87 and a 200 day moving average price of $146.17.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.37. The business had revenue of $416.44 million during the quarter, compared to analysts’ expectations of $561.60 million. RLI had a return on equity of 18.33% and a net margin of 20.78%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 earnings per share. On average, sell-side analysts expect that RLI will post 6.14 EPS for the current year.

RLI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, August 30th. RLI’s payout ratio is 15.83%.

Institutional Trading of RLI

Several large investors have recently made changes to their positions in the company. Creative Planning raised its holdings in shares of RLI by 2.4% during the 3rd quarter. Creative Planning now owns 18,586 shares of the insurance provider’s stock worth $2,880,000 after acquiring an additional 444 shares during the period. Exchange Traded Concepts LLC raised its stake in RLI by 9.1% during the third quarter. Exchange Traded Concepts LLC now owns 4,819 shares of the insurance provider’s stock worth $747,000 after purchasing an additional 401 shares during the period. Inspire Investing LLC raised its stake in RLI by 6.8% during the third quarter. Inspire Investing LLC now owns 2,671 shares of the insurance provider’s stock worth $414,000 after purchasing an additional 169 shares during the period. UMB Bank n.a. boosted its holdings in RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 155 shares during the last quarter. Finally, CWM LLC grew its stake in shares of RLI by 3.4% in the 3rd quarter. CWM LLC now owns 3,875 shares of the insurance provider’s stock valued at $601,000 after buying an additional 126 shares during the period. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

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.