RLI Corp. (RLI) Receives Average Rating of “Hold” from Brokerages

RLI Corp. (NYSE:RLI) has been given a consensus rating of “Hold” by the seven analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $41.33.

Several analysts recently issued reports on RLI shares. Keefe, Bruyette & Woods set a $51.00 target price on RLI Corp. and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Zacks Investment Research cut RLI Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. BidaskClub cut RLI Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. ValuEngine upgraded RLI Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, FBR & Co restated a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st.

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In other news, Director Robert P. Restrepo, Jr. purchased 1,200 shares of the business’s stock in a transaction on Monday, July 24th. The stock was acquired at an average price of $57.58 per share, for a total transaction of $69,096.00. Following the acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $403,060. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. Angelina purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average price of $54.41 per share, with a total value of $54,410.00. The disclosure for this purchase can be found here. Company insiders own 6.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLI. Bank of Montreal Can grew its holdings in RLI Corp. by 1.7% during the 1st quarter. Bank of Montreal Can now owns 2,410 shares of the insurance provider’s stock valued at $144,000 after buying an additional 40 shares in the last quarter. Glen Harbor Capital Management LLC grew its holdings in RLI Corp. by 1.3% during the 1st quarter. Glen Harbor Capital Management LLC now owns 2,184 shares of the insurance provider’s stock valued at $131,000 after buying an additional 28 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of RLI Corp. by 100.0% in the 1st quarter. Russell Investments Group Ltd. now owns 8,600 shares of the insurance provider’s stock worth $516,000 after purchasing an additional 4,300 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of RLI Corp. by 6.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 53,888 shares of the insurance provider’s stock worth $3,234,000 after purchasing an additional 3,231 shares during the period. Finally, Elkfork Partners LLC boosted its holdings in shares of RLI Corp. by 1.3% in the 1st quarter. Elkfork Partners LLC now owns 2,652 shares of the insurance provider’s stock worth $159,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Shares of RLI Corp. (NYSE:RLI) opened at 53.46 on Wednesday. RLI Corp. has a 52-week low of $50.34 and a 52-week high of $69.51. The company has a 50-day moving average price of $55.08 and a 200-day moving average price of $56.23. The company has a market cap of $2.35 billion, a P/E ratio of 23.65 and a beta of 1.24.

RLI Corp. (NYSE:RLI) last released its earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.09. RLI Corp. had a return on equity of 10.10% and a net margin of 12.38%. The firm had revenue of $196.20 million during the quarter, compared to analysts’ expectations of $198.09 million. During the same quarter last year, the business posted $0.61 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. On average, equities analysts predict that RLI Corp. will post $2.01 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, August 29th. RLI Corp.’s dividend payout ratio is presently 37.17%.

RLI Corp. Company Profile

RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.

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