Analysts Set RLI Corp. (NYSE:RLI) PT at $177.40

Shares of RLI Corp. (NYSE:RLI) have been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $177.40.

Several analysts have recently weighed in on the stock. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Compass Point lifted their price target on RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Oppenheimer initiated coverage on RLI in a research report on Wednesday, October 16th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods raised their price objective on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Jefferies Financial Group upped their target price on RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th.

RLI Stock Performance

NYSE:RLI opened at $175.02 on Friday. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 19.23 and a beta of 0.41. The stock has a fifty day moving average of $156.99 and a 200 day moving average of $148.95. RLI has a 52-week low of $125.77 and a 52-week high of $175.07.

RLI shares are set to split on the morning of Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, January 15th.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.33. RLI had a net margin of 23.77% and a return on equity of 19.03%. The company had revenue of $470.00 million for the quarter, compared to analysts’ expectations of $491.54 million. During the same period in the prior year, the business earned $0.61 earnings per share. RLI’s revenue for the quarter was up 41.7% compared to the same quarter last year. Equities analysts forecast that RLI will post 5.85 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently declared a None dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a dividend of $4.29 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from RLI’s previous None dividend of $2.25. RLI’s payout ratio is currently 12.75%.

Institutional Trading of RLI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its holdings in RLI by 620.0% in 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 bought a new position in shares of RLI in the 3rd quarter worth approximately $32,000. American National Bank bought a new stake in shares of RLI during the second quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its stake in RLI by 45.6% in the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 77 shares during the period. Finally, American National Bank & Trust raised its holdings in RLI by 62.5% in the third quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 155 shares in 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.