RLI (RLI) – Investment Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for RLI (NYSE: RLI):

• 4/24/2024 – RLI had its price target raised by analysts at Royal Bank of Canada from $148.00 to $155.00. They now have a “sector perform” rating on the stock.
• 4/24/2024 – RLI had its price target raised by analysts at Compass Point from $158.00 to $175.00. They now have a “buy” rating on the stock.
• 4/23/2024 – RLI had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 4/10/2024 – RLI had its price target raised by analysts at Keefe, Bruyette & Woods from $160.00 to $168.00. They now have an “outperform” rating on the stock.

RLI Trading Down 1.5 %

NYSE RLI traded down $2.20 on Monday, hitting $141.95. 178,479 shares of the company’s stock traded hands, compared to its average volume of 176,251. The firm has a market capitalization of $6.49 billion, a PE ratio of 19.61 and a beta of 0.37. RLI Corp. has a 1-year low of $123.04 and a 1-year high of $149.20. The firm’s 50-day moving average price is $144.77 and its two-hundred day moving average price is $139.06.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. The company had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 earnings per share. On average, research analysts anticipate that RLI Corp. will post 5.74 earnings per share for the current fiscal year.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Wednesday, February 28th. RLI’s dividend payout ratio is currently 14.92%.

Institutional Trading of RLI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. acquired a new position in shares of RLI during the fourth quarter valued at approximately $25,000. Gladius Capital Management LP increased its position in RLI by 129.7% during the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 153 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of RLI during the 1st quarter valued at approximately $44,000. Intelligent Financial Strategies acquired a new position in shares of RLI in the 1st quarter valued at $45,000. Finally, GAMMA Investing LLC acquired a new stake in shares of RLI during the fourth quarter valued at about $41,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

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.