Brokerages Set Price Target for RLI Corp. (NYSE:RLI) at $166.25

RLI Corp. (NYSE:RLI – Get Your Free Report ) has received a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $166.25.

RLI has been the subject of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $155.00 target price on shares of RLI in a report on Wednesday, July 24th. JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Compass Point cut their price target on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group cut their price target on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. July 29.

See the latest stock analysis on RLI

RLI stock performance

NYSE RLI opened at $154.06 on Friday. RLI has a 52 week low of $125.77 and a 52 week high of $155.59. The stock’s 50-day moving average is $149.10, and its two-hundred-day moving average is $145.37. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 21.28 and a beta of 0.41.

RLI (NYSE:RLI – Get Your Free Report ) last announced its earnings results on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.33%. The business had revenue of $416.44 million during the quarter, compared to analysts’ expectations of $561.60 million. In the same quarter last year, the company posted earnings of $1.16 per share. The company’s revenue rose 9.1% year-over-year. On average, equities research analysts forecast that RLI will post 6.14 EPS for the current year.

RLI announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 30. This represents an annualized dividend of $1.16 and a dividend yield of 0.75%. RLI’s dividend payout ratio is currently 16.02%.

Institutional trading of RLI

A number of hedge funds have recently modified their holdings of RLI. American National Bank acquired a new stake in RLI in the second quarter valued at about $35,000. EverSource Wealth Advisors LLC boosted its stake in RLI by 45.6% in the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares during the period. Riverview Trust Co purchased a new position in RLI in the first quarter valued at $44,000. Intelligent Financial Strategies acquired a new position in RLI in the first quarter valued at $45,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in RLI by 468.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock worth $46,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s shares.

About RLI

(Get a free report

RLI Corp., an insurance holding company, underwrites property and casualty insurance. The casualty segment offers commercial and personal coverage products; and general liability products, such as third-party liability coverage for commercial policyholders, including manufacturers, contractors, condos and tradespeople.

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