Brokerages Set RLI Corp. (NYSE:RLI) PT at $166.25

RLI Corp. (NYSE:RLI) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $166.25.

A number of equities research analysts have recently issued reports on RLI shares. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Compass Point reduced their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $155.00 target price on shares of RLI in a report on Wednesday, July 24th. Jefferies Financial Group cut their price target on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th.

RLI Trading Up 0.2 %

NYSE:RLI opened at $154.01 on Friday. The company has a 50-day moving average of $149.72 and a 200-day moving average of $145.52. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 21.27 and a beta of 0.41. RLI has a twelve month low of $125.77 and a twelve month high of $155.59.

RLI (NYSE:RLI) last issued its earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37. The firm had revenue of $416.44 million during the quarter, compared to analysts’ expectations of $561.60 million. RLI had a net margin of 20.78% and a return on equity of 18.33%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. On average, research analysts forecast that RLI will post 6.14 earnings per share for the current year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, August 30th. RLI’s dividend payout ratio is currently 16.02%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of RLI by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 931,454 shares of the insurance provider’s stock valued at $131,045,000 after buying an additional 24,125 shares during the period. Maren Capital LLC grew its stake in RLI by 21.3% in the first quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock valued at $90,876,000 after purchasing an additional 107,655 shares in the last quarter. Van Berkom & Associates Inc. increased its position in RLI by 1.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 556,764 shares of the insurance provider’s stock worth $78,331,000 after purchasing an additional 8,454 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of RLI by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 428,331 shares of the insurance provider’s stock worth $60,262,000 after purchasing an additional 1,979 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of RLI during the 4th quarter valued at about $52,592,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Company Profile

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.