RLI’s (RLI) “Outperform” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their outperform rating on shares of RLI (NYSE:RLI) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $168.00 price objective on the insurance provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group dropped their price objective on RLI from $170.00 to $165.00 and set a buy rating on the stock in a research report on Friday, June 14th. Royal Bank of Canada raised their price objective on RLI from $148.00 to $155.00 and gave the company a sector perform rating in a research report on Wednesday, April 24th. Compass Point raised their price objective on RLI from $158.00 to $175.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Finally, JMP Securities reaffirmed a market perform rating on shares of RLI in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $165.75.

RLI Trading Down 0.8 %

RLI opened at $141.30 on Friday. RLI has a 12-month low of $125.77 and a 12-month high of $149.20. The business’s fifty day simple moving average is $143.39 and its 200-day simple moving average is $141.56. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 19.52 and a beta of 0.41.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. RLI had a return on equity of 17.24% and a net margin of 20.96%. The business had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. During the same quarter in the prior year, the company earned $1.63 EPS. The business’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts predict that RLI will post 5.85 EPS for the current year.

RLI Increases Dividend

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 $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from RLI’s previous quarterly dividend of $0.27. RLI’s dividend payout ratio (DPR) is currently 16.02%.

Institutional Investors Weigh In On RLI

Several institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC acquired a new stake in RLI in the first quarter worth about $515,000. B. Riley Wealth Advisors Inc. boosted its holdings in RLI by 25.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,908 shares of the insurance provider’s stock worth $259,000 after acquiring an additional 383 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in RLI by 237.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider’s stock worth $30,864,000 after acquiring an additional 146,324 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in RLI by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock worth $39,400,000 after acquiring an additional 33,435 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in RLI in the first quarter worth about $130,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Company Profile

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.