RLI Corp. (NYSE:RLI) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analyst consensus: Hold — Eight analysts cover RLI with a consensus "Hold" (seven holds, one strong buy) and an average 12‑month target of $64.40.
• Insider buying — COO Jennifer Klobnak bought 2,000 shares and CEO Craig K. Kliethermes bought 5,000 shares on Jan. 23, increasing their holdings to 100,318 and 143,990 shares respectively; insiders own 2.39% of the company.
• Fundamentals and recent results — RLI beat the quarter with $0.94 EPS vs. $0.76 expected and $465.7M revenue vs. $447.5M expected, reporting a 21.4% net margin and 18.7% ROE; the stock trades at a P/E of ~13.5 and a beta of 0.52.

Shares of RLI Corp. (NYSE:RLI - Get Free Report) have been given a consensus recommendation of "Hold" by the eight ratings firms that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $64.40.

Several research analysts have commented on RLI shares. Wells Fargo & Company cut their price target on shares of RLI from $59.00 to $55.00 and set an "equal weight" rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods raised shares of RLI from a "moderate buy" rating to a "strong-buy" rating in a report on Tuesday, February 24th. Truist Financial set a $58.00 price target on shares of RLI in a report on Friday, January 23rd. Weiss Ratings reissued a "hold (c-)" rating on shares of RLI in a report on Thursday, April 2nd. Finally, Jefferies Financial Group raised shares of RLI from an "underperform" rating to a "hold" rating and set a $52.00 price target for the company in a report on Friday, January 23rd.

Insider Buying and Selling at RLI

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

Institutional Trading of RLI

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Krilogy Financial LLC purchased a new stake in shares of RLI during the 1st quarter valued at $250,000. Diversified Trust Co raised its position in shares of RLI by 4.0% during the 1st quarter. Diversified Trust Co now owns 14,434 shares of the insurance provider's stock valued at $823,000 after buying an additional 551 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of RLI by 5.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,805 shares of the insurance provider's stock valued at $755,000 after buying an additional 595 shares in the last quarter. World Investment Advisors grew its holdings in shares of RLI by 29.6% during the 4th quarter. World Investment Advisors now owns 6,212 shares of the insurance provider's stock valued at $397,000 after purchasing an additional 1,420 shares during the last quarter. Finally, Brighton Securities CORP. grew its holdings in shares of RLI by 14.8% during the 4th quarter. Brighton Securities CORP. now owns 3,454 shares of the insurance provider's stock valued at $221,000 after purchasing an additional 445 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company's stock.

RLI Price Performance

Shares of NYSE:RLI opened at $59.04 on Friday. The firm has a fifty day moving average price of $59.88 and a two-hundred day moving average price of $61.22. RLI has a one year low of $55.80 and a one year high of $79.55. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 13.54 and a beta of 0.52.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.76 by $0.18. RLI had a net margin of 21.43% and a return on equity of 18.67%. The firm had revenue of $465.69 million during the quarter, compared to the consensus estimate of $447.53 million. During the same period last year, the firm earned $0.41 EPS. Equities research analysts expect that RLI will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.16 per share. The ex-dividend date was Monday, March 2nd. This represents a $0.64 annualized dividend and a dividend yield of 1.1%. RLI's dividend payout ratio (DPR) is 14.68%.

RLI Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.