RLI Corp. (NYSE:RLI) Given Consensus Rating of "Hold" by Brokerages

Key Points

• RLI Corp. has received a consensus rating of "Hold" from seven research firms, with varying recommendations from sell to buy.
• The company's stock opened at $61.28, with a 12-month target price averaging $72.80, despite experiencing a low of $59.01 and a high of $91.14 in the past year.
• RLI reported $0.83 earnings per share for the quarter, surpassing estimates and generating a revenue of $510.22 million.

RLI Corp. (NYSE:RLI - Get Free Report) has been given a consensus rating of "Hold" by the seven research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $72.80.

RLI has been the topic of several analyst reports. Truist Financial set a $62.00 price objective on RLI and gave the stock a "hold" rating in a report on Friday, October 3rd. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of RLI in a research report on Saturday.

RLI Stock Up 0.2%

Shares of NYSE:RLI opened at $61.28 on Friday. The stock's 50-day moving average price is $65.14 and its two-hundred day moving average price is $69.98. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.05. RLI has a 12-month low of $59.01 and a 12-month high of $91.14. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 16.08 and a beta of 0.60.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings data on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.21. The business had revenue of $510.22 million for the quarter, compared to analyst estimates of $444.75 million. RLI had a return on equity of 16.51% and a net margin of 19.02%.During the same period in the previous year, the company posted $1.31 EPS. On average, research analysts forecast that RLI will post 3.08 EPS for the current year.

RLI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, August 29th. RLI's dividend payout ratio is currently 16.80%.

Institutional Investors Weigh In On RLI

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of RLI by 7,300.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider's stock worth $27,000 after buying an additional 365 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in RLI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 186 shares during the last quarter. Clarity Asset Management Inc. acquired a new stake in RLI during the 2nd quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in RLI by 100.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider's stock worth $32,000 after purchasing an additional 198 shares during the period. Finally, Chung Wu Investment Group LLC acquired a new stake in RLI during the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 77.89% of the company's stock.

About RLI

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.

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