Shares of RLI Corp. (NYSE:RLI - Get Free Report) were down 4.8% on Monday . The company traded as low as $72.82 and last traded at $72.31. Approximately 40,113 shares changed hands during trading, a decline of 89% from the average daily volume of 369,762 shares. The stock had previously closed at $75.93.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on RLI shares. Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Keefe, Bruyette & Woods decreased their price target on shares of RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, JMP Securities reissued a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $78.60.
Check Out Our Latest Analysis on RLI
RLI Price Performance
The company has a 50 day moving average of $75.23 and a 200-day moving average of $77.65. The stock has a market capitalization of $6.82 billion, a P/E ratio of 19.84 and a beta of 0.70. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07.
RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. RLI had a return on equity of 16.63% and a net margin of 19.53%. The firm had revenue of $36.73 million for the quarter, compared to analysts' expectations of $442.20 million. During the same period last year, the business posted $0.95 earnings per share. The firm's revenue for the quarter was down 8.3% on a year-over-year basis. Sell-side analysts predict that RLI Corp. will post 3.08 EPS for the current year.
RLI Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 30th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, May 30th. This is a boost from RLI's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.86%. RLI's dividend payout ratio (DPR) is 21.05%.
Institutional Investors Weigh In On RLI
A number of hedge funds have recently added to or reduced their stakes in RLI. Golden State Wealth Management LLC lifted its stake in RLI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock valued at $30,000 after buying an additional 186 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in RLI by 100.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 396 shares of the insurance provider's stock valued at $32,000 after buying an additional 198 shares during the last quarter. Versant Capital Management Inc lifted its stake in RLI by 100.0% in the first quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock valued at $33,000 after buying an additional 203 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in RLI by 88.5% in the first quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock valued at $38,000 after buying an additional 224 shares during the last quarter. Finally, Compass Wealth Management LLC lifted its stake in RLI by 100.0% in the first quarter. Compass Wealth Management LLC now owns 480 shares of the insurance provider's stock valued at $39,000 after buying an additional 240 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors.
RLI Company Profile
(
Get Free Report)
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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