RLI Corp. (NYSE:RLI – Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $169.00 to $175.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. RLI traded as high as $150.20 and last traded at $150.00, with a volume of 18733 shares traded. The stock had previously closed at $147.22.
RLI has been the topic of several other reports. JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $155.00 target price on shares of RLI in a research note on Wednesday, July 24th. Compass Point dropped their price target on RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group reduced their price objective on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.25.
Check Out Our Latest Stock Report on RLI
Hedge Funds Weigh In On RLI
RLI Price Performance
The stock has a 50 day simple moving average of $141.88 and a 200-day simple moving average of $142.99. The firm has a market cap of $6.88 billion, a PE ratio of 20.53 and a beta of 0.41.
RLI (NYSE:RLI – Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.37. The firm had revenue of $416.44 million during the quarter, compared to analyst estimates of $561.60 million. RLI had a return on equity of 18.33% and a net margin of 20.78%. RLI’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. As a group, equities analysts predict that RLI Corp. will post 6.05 EPS for the current fiscal year.
RLI Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were issued a dividend of $0.29 per share. This is a boost from RLI’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.77%. RLI’s dividend payout ratio is presently 16.02%.
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.
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