RLI (NYSE:RLI) Receives Market Perform Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of RLI (NYSE:RLI) in a report released on Tuesday, Benzinga reports.

RLI has been the subject of a number of other reports. Keefe, Bruyette & Woods increased their price target on RLI from $160.00 to $168.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Royal Bank of Canada reiterated a sector perform rating and set a $148.00 price target on shares of RLI in a report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $163.25.

RLI Stock Down 1.7 %

Shares of RLI opened at $144.15 on Tuesday. RLI has a 52-week low of $123.04 and a 52-week high of $149.20. The company has a market capitalization of $6.59 billion, a PE ratio of 19.91 and a beta of 0.37. The stock has a fifty day simple moving average of $144.77 and a two-hundred day simple moving average of $139.01. The company has a quick ratio of 0.38, a current ratio of 0.39 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI) last issued its 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 during the quarter, compared to the consensus estimate of $460.05 million. During the same period last year, the company earned $1.63 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities analysts forecast that RLI will post 5.64 EPS for the current 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 issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Wednesday, February 28th. RLI’s dividend payout ratio (DPR) is 14.92%.

Hedge Funds Weigh In On RLI

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. purchased a new position in RLI during the 3rd quarter valued at about $661,000. Envestnet Asset Management Inc. raised its position in RLI by 28.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 76,124 shares of the insurance provider’s stock valued at $10,344,000 after purchasing an additional 16,725 shares in the last quarter. Resonant Capital Advisors LLC raised its position in RLI by 1.7% in the 3rd quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock valued at $642,000 after purchasing an additional 77 shares in the last quarter. JPMorgan Chase & Co. raised its position in RLI by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after purchasing an additional 11,965 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in RLI in the 3rd quarter valued at about $840,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

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.