Analysts Set RLI Corp. (NYSE:RLI) Price Target at $64.40

by · The Markets Daily

RLI Corp. (NYSE:RLIGet Free Report) has received a consensus recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $64.40.

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of RLI in a research report on Thursday, April 2nd. Zacks Research upgraded shares of RLI from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Citizens Jmp reissued a “market perform” rating on shares of RLI in a report on Friday, January 23rd. Wells Fargo & Company dropped their target price on shares of RLI from $59.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods upgraded shares of RLI from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, February 24th.

Check Out Our Latest Analysis on RLI

Insider Activity at RLI

In other news, CEO Craig W. Kliethermes purchased 5,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was acquired at an average cost of $57.45 per share, for a total transaction of $287,250.00. Following the acquisition, the chief executive officer owned 143,990 shares of the company’s stock, valued at $8,272,225.50. The trade was a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jennifer L. Klobnak purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average cost of $57.99 per share, for a total transaction of $115,980.00. Following the completion of the transaction, the chief operating officer owned 100,318 shares in the company, valued at approximately $5,817,440.82. This represents a 2.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.39% of the company’s stock.

Institutional Trading of RLI

Several institutional investors have recently added to or reduced their stakes in the business. Quent Capital LLC bought a new position in shares of RLI in the 3rd quarter worth about $26,000. Farther Finance Advisors LLC grew its position 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 buying an additional 201 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position 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 buying an additional 283 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in RLI by 72.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 259 shares during the period. Finally, AlphaQuest LLC bought a new position in RLI in the third quarter worth about $43,000. Institutional investors own 77.89% of the company’s stock.

RLI Stock Performance

Shares of RLI opened at $58.44 on Friday. The company has a market capitalization of $5.37 billion, a P/E ratio of 13.40 and a beta of 0.52. RLI has a one year low of $55.80 and a one year high of $79.55. The stock has a 50-day moving average price of $59.76 and a 200 day moving average price of $61.13.

RLI (NYSE:RLIGet Free Report) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.18. RLI had a return on equity of 18.67% and a net margin of 21.43%.The company had revenue of $465.69 million for the quarter, compared to the consensus estimate of $447.53 million. During the same period in the previous year, the business earned $0.41 EPS. As a group, equities research analysts forecast that RLI will post 2.78 earnings per share for the current fiscal year.

RLI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, March 2nd. RLI’s payout ratio is currently 14.68%.

About RLI

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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.

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