RLI (NYSE:RLI) Reaches New 52-Week Low - Here's What Happened

RLI Corp. (NYSE:RLI - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $68.18 and last traded at $68.08, with a volume of 141335 shares. The stock had previously closed at $69.35.

Analyst Upgrades and Downgrades

Several research firms recently commented on RLI. Compass Point lowered RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Keefe, Bruyette & Woods cut their target price on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. 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 current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 19.44 and a beta of 0.67. The company has a 50-day moving average of $72.92 and a 200-day moving average of $74.86.

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 the consensus estimate of $0.75 by $0.09. The business had revenue of $562.28 million for the quarter, compared to analyst estimates of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%. The business's revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 EPS. On average, equities research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 30th were given a dividend of $0.16 per share. This is a positive change from RLI's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Friday, May 30th. RLI's dividend payout ratio is currently 18.34%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RLI. Sei Investments Co. grew its stake in RLI by 20.8% during the 4th quarter. Sei Investments Co. now owns 75,855 shares of the insurance provider's stock worth $12,502,000 after buying an additional 13,080 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in RLI during the 4th quarter worth $1,385,000. LPL Financial LLC grew its stake in RLI by 15.9% during the 4th quarter. LPL Financial LLC now owns 37,926 shares of the insurance provider's stock worth $6,251,000 after buying an additional 5,213 shares during the last quarter. Vanguard Group Inc. grew its stake in RLI by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,608,243 shares of the insurance provider's stock worth $759,577,000 after buying an additional 41,884 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in RLI during the 4th quarter worth $4,939,000. 77.89% of the stock is currently owned by institutional investors.

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.