RLI Corp. (NYSE:RLI) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• RLI Corp. has received a consensus recommendation of "Hold" from analysts, with one sell rating, four hold ratings, and two buy ratings among the seven research firms covering the stock.
• In its latest earnings report, RLI reported $0.84 EPS, surpassing the consensus estimate of $0.75, and its quarterly revenue increased by 20% year-over-year.
• The company recently announced a quarterly dividend of $0.16 per share, with a payout scheduled for September 19th, reflecting a 1.0% yield on an annualized basis.

RLI Corp. (NYSE:RLI - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $78.60.

Separately, Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a report on Saturday, July 26th.

Insider Activity

In related news, COO Jennifer L. Klobnak purchased 3,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was acquired at an average price of $69.15 per share, for a total transaction of $207,450.00. Following the completion of the purchase, the chief operating officer directly owned 98,450 shares of the company's stock, valued at $6,807,817.50. This trade represents a 3.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.16% of the company's stock.

Institutional Trading of RLI

Several hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted 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 valued at $27,000 after acquiring an additional 365 shares in the last quarter. Clarity Asset Management Inc. purchased a new stake in RLI in the 2nd quarter valued at approximately $28,000. Chung Wu Investment Group LLC purchased a new stake in RLI in the 2nd quarter valued at approximately $29,000. Golden State Wealth Management LLC increased its position in RLI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after purchasing an additional 186 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in shares of RLI by 3,645.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider's stock valued at $30,000 after buying an additional 401 shares during the period. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Stock Performance

Shares of RLI stock opened at $67.04 on Friday. The firm's fifty day simple moving average is $68.47 and its 200-day simple moving average is $72.98. RLI has a 12 month low of $65.14 and a 12 month high of $91.14. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 19.21 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $562.28 million for the quarter, compared to the consensus estimate of $445.55 million. RLI had a net margin of 17.81% and a return on equity of 15.82%. RLI's revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the firm posted $1.72 EPS. As a group, equities analysts forecast that RLI will post 3.08 earnings per share for the current year.

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 29th. RLI's dividend payout ratio (DPR) is presently 18.34%.

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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