RLI Corp. (NYSE:RLI) Stock Has Average Price Target of $62.40 According to Analysts

by · The Cerbat Gem

Shares of RLI Corp. (NYSE:RLI – Get Free Report) have been assigned an average rating of “Reduce” from the six research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $62.40.

Several equities analysts recently weighed in on the stock. Wells Fargo & Company set a $53.00 price target on shares of RLI and gave the company an “underweight” rating in a research report on Wednesday, October 21st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 price objective (up from $69.00) on shares of RLI in a report on Wednesday, October 21st. UBS Group set a $74.00 price objective on RLI in a research note on Tuesday, July 28th. Weiss Ratings upgraded RLI from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 28th. Finally, Jefferies Financial Group cut RLI from a “hold” rating to an “underperform” rating and set a $53.00 target price on the stock. in a research report on Tuesday, August 25th.

Check Out Our Latest Stock Analysis on RLI

RLI Stock Down 1.8%

Shares of RLI opened at $68.43 on Thursday. The business’s fifty day moving average is $60.98 and its 200 day moving average is $58.91. RLI has a 12-month low of $47.26 and a 12-month high of $71.89. The stock has a market cap of $6.28 billion, a P/E ratio of 15.95 and a beta of 0.31.

RLI (NYSE:RLI – Get Free Report) last announced its quarterly earnings results on Monday, October 19th. The insurance provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.32. The business had revenue of $476.96 million during the quarter, compared to analyst estimates of $533.51 million. RLI had a net margin of 20.34% and a return on equity of 18.19%. During the same quarter in the previous year, the business posted $0.83 EPS. On average, analysts expect that RLI will post 3.15 EPS for the current year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.18 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. RLI’s dividend payout ratio is presently 16.78%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RLI. BlackRock Inc. bought a new position in shares of RLI during the 2nd quarter worth $492,175,000. Port Capital LLC bought a new stake in RLI in the 2nd quarter valued at about $79,499,000. Wasatch Advisors LP lifted its holdings in RLI by 40.7% during the second quarter. Wasatch Advisors LP now owns 3,631,273 shares of the insurance provider’s stock valued at $214,499,000 after purchasing an additional 1,051,318 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in RLI during the second quarter valued at about $46,855,000. Finally, First Trust Advisors LP lifted its holdings in RLI by 311.6% during the first quarter. First Trust Advisors LP now owns 688,318 shares of the insurance provider’s stock valued at $39,262,000 after purchasing an additional 521,096 shares during the last quarter. 77.89% of the stock is owned by institutional investors.

RLI Company Profile

(Get Free Report)

RLI Corp. (NYSE: RLI) is a specialty insurance company that underwrites property and casualty insurance products for commercial and personal customers. The company focuses on specialized risks that may not be adequately served by standard insurance carriers.

RLI’s offerings include commercial property and casualty coverage, professional liability insurance, surety bonds, transportation-related insurance, and personal lines such as homeowners and personal umbrella coverage. Its products are distributed through independent agents, brokers, and other insurance intermediaries.

Founded in 1965 and headquartered in Peoria, Illinois, RLI serves customers primarily throughout the United States.

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