RLI Corp. (NYSE:RLI) Given Consensus Recommendation of “Hold” by Brokerages

RLI Corp. (NYSE:RLI) has been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $61.50.

A number of research analysts have issued reports on RLI shares. Wall Street Zen lowered shares of RLI from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Wells Fargo & Company reduced their target price on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, February 24th. Weiss Ratings lowered shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Finally, Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd.

Insider Activity

In other news, Director Clark C. Kellogg bought 3,000 shares of RLI stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $50.90 per share, for a total transaction of $152,700.00. Following the acquisition, the director owned 4,502 shares in the company, valued at approximately $229,151.80. This trade represents a 199.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Jennifer L. Klobnak bought 2,000 shares of RLI stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $53.42 per share, for a total transaction of $106,840.00. Following the completion of the acquisition, the chief operating officer owned 102,318 shares in the company, valued at $5,465,827.56. This represents a 1.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 16,500 shares of company stock valued at $858,955 in the last 90 days. Company insiders own 2.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 201 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of RLI by 156.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 283 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of RLI by 72.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 259 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of RLI during the 3rd quarter valued at about $43,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of RLI during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Stock Up 0.5%

RLI stock opened at $54.39 on Monday. RLI has a 52 week low of $47.26 and a 52 week high of $74.17. The firm’s 50-day simple moving average is $53.50 and its 200 day simple moving average is $58.55. The firm has a market capitalization of $5.00 billion, a PE ratio of 12.71 and a beta of 0.41.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.73 by $0.10. RLI had a net margin of 20.81% and a return on equity of 17.72%. The business had revenue of $423.87 million for the quarter, compared to analyst estimates of $564.47 million. During the same period in the previous year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, research analysts expect that RLI will post 2.75 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a $0.18 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, May 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. RLI’s payout ratio is currently 16.82%.

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.