RLI (NYSE:RLI) Reaches New 12-Month Low - Time to Sell?

Key Points

• RLI Corp. reached a new **52-week low** at $64.98, with the stock trading last at **$65.09** and experiencing a volume of **66,689 shares**.
• Analyst ratings show a mixed outlook with **two Buy**, **four Hold**, and **one Sell** rating, leading to an average price target of **$78.60**.
• The company announced a **quarterly dividend** of **$0.16** per share, reflecting a 1.0% annual yield, with payment scheduled for **September 19**.

RLI Corp. (NYSE:RLI - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $64.98 and last traded at $65.09, with a volume of 66689 shares. The stock had previously closed at $65.96.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, RLI has an average rating of "Hold" and an average price target of $78.60.

RLI Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. The company's 50-day moving average price is $67.92 and its two-hundred day moving average price is $72.60. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 18.60 and a beta of 0.65.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The insurance provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. The company had revenue of $562.28 million for the quarter, compared to analyst estimates of $445.55 million. RLI had a net margin of 17.81% and a return on equity of 15.82%. The firm's revenue was up 20.0% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share. On average, equities research analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 29th will be 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 of this dividend is Friday, August 29th. RLI's payout ratio is currently 18.34%.

Insider Activity at RLI

In related news, COO Jennifer L. Klobnak acquired 3,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were purchased at an average price of $69.15 per share, for a total transaction of $207,450.00. Following the completion of the acquisition, the chief operating officer owned 98,450 shares in the company, valued at approximately $6,807,817.50. This represents a 3.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.16% of the company's stock.

Hedge Funds Weigh In On RLI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH grew its stake in shares of RLI by 2.3% in the second quarter. Allianz Asset Management GmbH now owns 7,104 shares of the insurance provider's stock worth $513,000 after acquiring an additional 163 shares during the period. Signaturefd LLC increased its holdings in RLI by 16.0% during the second quarter. Signaturefd LLC now owns 1,240 shares of the insurance provider's stock valued at $90,000 after buying an additional 171 shares during the period. Vista Finance LLC grew its position in shares of RLI by 4.0% in the 2nd quarter. Vista Finance LLC now owns 4,655 shares of the insurance provider's stock worth $336,000 after buying an additional 181 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of RLI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after buying an additional 186 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in RLI by 56.8% during the first quarter. SBI Securities Co. Ltd. now owns 530 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 192 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

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.

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