RLI’s (RLI) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities restated their market perform rating on shares of RLI (NYSE:RLI) in a report issued on Tuesday, Benzinga reports.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada reissued a sector perform rating and issued a $148.00 target price on shares of RLI in a research report on Friday, January 26th. Keefe, Bruyette & Woods raised their price target on shares of RLI from $160.00 to $168.00 and gave the company an outperform rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $163.25.

RLI Price Performance

RLI opened at $146.51 on Tuesday. The company’s 50 day simple moving average is $144.72 and its 200 day simple moving average is $138.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.39. RLI has a 1 year low of $123.04 and a 1 year high of $149.20. The stock has a market capitalization of $6.70 billion, a PE ratio of 20.24 and a beta of 0.37.

RLI (NYSE:RLI) last released its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. RLI had a net margin of 20.96% and a return on equity of 17.24%. The business had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $460.05 million. During the same period last year, the company earned $1.63 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, sell-side analysts expect that RLI will post 5.64 EPS for the current year.

RLI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.08 annualized dividend and a yield of 0.74%. RLI’s payout ratio is 14.92%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RLI. QRG Capital Management Inc. purchased a new stake in shares of RLI during the third quarter valued at approximately $661,000. Envestnet Asset Management Inc. raised its stake in shares of RLI by 28.2% during the third quarter. Envestnet Asset Management Inc. now owns 76,124 shares of the insurance provider’s stock valued at $10,344,000 after purchasing an additional 16,725 shares during the period. Resonant Capital Advisors LLC raised its stake in shares of RLI by 1.7% during the third quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock valued at $642,000 after purchasing an additional 77 shares during the period. JPMorgan Chase & Co. raised its stake in shares of RLI by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after purchasing an additional 11,965 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of RLI during the third quarter valued at approximately $840,000. Hedge funds and other institutional investors 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.