RLI (NYSE:RLI) Hits New 12-Month Low – Should You Sell?

Shares of RLI Corp. (NYSE:RLI) reached a new 52-week low on Monday . The stock traded as low as $48.45 and last traded at $48.69, with a volume of 522032 shares traded. The stock had previously closed at $49.05.

Wall Street Analysts Forecast Growth

RLI has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of RLI in a research note on Thursday, April 2nd. Wells Fargo & Company decreased their target price on RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. Zacks Research upgraded RLI from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Wall Street Zen cut RLI from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Keefe, Bruyette & Woods upgraded RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $61.50.

RLI Price Performance

The stock has a 50 day simple moving average of $57.91 and a two-hundred day simple moving average of $60.35. The company has a market cap of $4.45 billion, a PE ratio of 11.30 and a beta of 0.42.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.10. RLI had a return on equity of 17.72% and a net margin of 20.81%.The company had revenue of $423.87 million during the quarter, compared to analysts’ expectations of $564.47 million. During the same quarter in the previous year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts anticipate that RLI Corp. will post 2.7 EPS for the current fiscal year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.16 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.3%. RLI’s payout ratio is currently 14.95%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Chatham Capital Group Inc. increased its holdings in shares of RLI by 0.7% in the fourth quarter. Chatham Capital Group Inc. now owns 26,460 shares of the insurance provider’s stock valued at $1,693,000 after purchasing an additional 180 shares during the period. Covestor Ltd increased its holdings in shares of RLI by 13.0% in the fourth quarter. Covestor Ltd now owns 1,590 shares of the insurance provider’s stock valued at $102,000 after purchasing an additional 183 shares during the period. Allworth Financial LP increased its holdings in shares of RLI by 5.3% in the third quarter. Allworth Financial LP now owns 3,760 shares of the insurance provider’s stock valued at $245,000 after purchasing an additional 189 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of RLI by 94.4% in the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 201 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of RLI by 0.3% in the third quarter. Public Employees Retirement System of Ohio now owns 75,502 shares of the insurance provider’s stock valued at $4,924,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.