RLI (NYSE:RLI) Reaches New 52-Week 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) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $64.98 and last traded at $65.09, with a volume of 66689 shares changing hands. The stock had previously closed at $65.96.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, RLI presently has a consensus rating of "Hold" and a consensus target price of $78.60.

RLI Trading Down 1.6%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 18.52 and a beta of 0.65. The business has a fifty day moving average price of $67.47 and a 200 day moving average price of $72.35.

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

RLI Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 29th were 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 was Friday, August 29th. RLI's dividend payout ratio is 18.34%.

Insiders Place Their Bets

In other RLI news, COO Jennifer L. Klobnak acquired 3,000 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was bought at an average cost 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 in the company, valued at $6,807,817.50. This represents a 3.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.16% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RLI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of RLI by 95.2% during the first quarter. Vanguard Group Inc. now owns 8,996,643 shares of the insurance provider's stock worth $722,700,000 after purchasing an additional 4,388,400 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of RLI by 117.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,226,797 shares of the insurance provider's stock valued at $419,869,000 after buying an additional 2,817,616 shares during the period. Neuberger Berman Group LLC lifted its position in RLI by 106.6% during the 1st quarter. Neuberger Berman Group LLC now owns 2,750,738 shares of the insurance provider's stock worth $220,967,000 after acquiring an additional 1,419,212 shares in the last quarter. Markel Group Inc. boosted its holdings in RLI by 100.0% in the 1st quarter. Markel Group Inc. now owns 2,394,544 shares of the insurance provider's stock worth $192,354,000 after acquiring an additional 1,197,272 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in RLI by 97.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,861,984 shares of the insurance provider's stock valued at $149,569,000 after acquiring an additional 920,799 shares in the last quarter. Institutional investors and hedge funds 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.