RLI Corp (NYSE:RLI) Receives Average Recommendation of “Hold” from Brokerages

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RLI Corp (NYSE:RLI) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $67.25.

A number of analysts have weighed in on RLI shares. TheStreet downgraded WCF Bancorp from a “c” rating to a “d+” rating in a report on Thursday, April 18th. Zacks Investment Research downgraded Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th.

NYSE:RLI traded up $0.38 during trading hours on Tuesday, hitting $87.74. 123,700 shares of the company were exchanged, compared to its average volume of 139,302. The company has a market cap of $3.95 billion, a PE ratio of 42.80 and a beta of 0.79. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.17. RLI has a one year low of $64.48 and a one year high of $91.49. The business’s fifty day moving average is $87.50.

RLI (NYSE:RLI) last announced its earnings results on Wednesday, April 17th. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.12. The business had revenue of $221.25 million during the quarter. RLI had a return on equity of 11.36% and a net margin of 13.11%. On average, research analysts anticipate that RLI will post 2.3 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, May 31st were issued a dividend of $0.23 per share. This is an increase from RLI’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Thursday, May 30th. RLI’s dividend payout ratio (DPR) is presently 44.88%.

In other RLI news, Director Michael J. Stone sold 15,000 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $79.19, for a total transaction of $1,187,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Stone sold 1,433 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $85.61, for a total value of $122,679.13. The disclosure for this sale can be found here. Company insiders own 5.01% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of RLI. Murphy Pohlad Asset Management LLC acquired a new stake in shares of RLI in the 4th quarter valued at about $27,000. Quadrant Capital Group LLC acquired a new stake in shares of RLI in the 1st quarter valued at about $80,000. Contravisory Investment Management Inc. acquired a new stake in shares of RLI in the 1st quarter valued at about $124,000. NEXT Financial Group Inc acquired a new stake in shares of RLI in the 2nd quarter valued at about $162,000. Finally, FMR LLC grew its stake in shares of RLI by 6.2% in the 1st quarter. FMR LLC now owns 2,342 shares of the insurance provider’s stock valued at $168,000 after buying an additional 136 shares during the period. Institutional investors own 89.48% of the company’s stock.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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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