RLI (NYSE:RLI) Sets New 52-Week High – What’s Next?

RLI Corp. (NYSE:RLI) hit a new 52-week high on Wednesday . The stock traded as high as $167.05 and last traded at $167.05, with a volume of 868 shares traded. The stock had previously closed at $159.90.

Analysts Set New Price Targets

Several brokerages have weighed in on RLI. Compass Point boosted their price objective on RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wolfe Research started coverage on RLI in a research note on Wednesday, October 9th. They set an “outperform” rating and a $182.00 target price on the stock. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Royal Bank of Canada upped their target price on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods upped their target price on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RLI currently has an average rating of “Moderate Buy” and an average price target of $177.40.

RLI Stock Up 4.7 %

The company has a market cap of $7.67 billion, a P/E ratio of 17.57 and a beta of 0.41. The firm has a 50 day moving average of $155.69 and a 200-day moving average of $148.26.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.33. RLI had a return on equity of 19.03% and a net margin of 23.77%. The company had revenue of $470.00 million for the quarter, compared to analysts’ expectations of $491.54 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. RLI’s revenue was up 41.7% compared to the same quarter last year. On average, research analysts predict that RLI Corp. will post 5.88 EPS for the current fiscal year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.69%. RLI’s dividend payout ratio is currently 12.75%.

Institutional Trading of RLI

Hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. lifted its holdings in RLI by 620.0% during the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after buying an additional 155 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of RLI during the 3rd quarter valued at $32,000. EverSource Wealth Advisors LLC lifted its holdings in shares of RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. American National Bank purchased a new stake in shares of RLI during the 2nd quarter valued at $35,000. Finally, American National Bank & Trust lifted its holdings in shares of RLI by 62.5% during the 3rd quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 155 shares during the last quarter. 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.