RLI Corp: Analysts Hold Steady Amid Market Fluctuations
RLI Corp (NYSE:RLI) stock maintains a 'Hold' consensus rating with a price target of $78.60. Analysts weigh in on performance and dividend increase.
RLI Corp (NYSE:RLI) has been a focal point for investors and analysts alike, with its stock receiving a consensus rating of 'Hold' from seven research firms, according to Marketbeat.com. This rating comes as a result of one analyst recommending a 'sell,' four suggesting a 'hold,' and two giving a 'buy' recommendation. The average 12-month price target set by brokers stands at $78.60.
In recent months, RLI has been the subject of numerous research updates. On April 25th, Compass Point downgraded the insurance company from a 'strong-buy' to a 'hold.' Conversely, Wall Street Zen upgraded RLI from a 'sell' to a 'hold' on May 6th. Additionally, Keefe, Bruyette & Woods adjusted their price objective from $95.00 to $85.00, maintaining an 'outperform' rating for the company.
RLI's stock opened at $72.05 this past Monday, and the company presents a quick ratio and current ratio of 0.35, with a debt-to-equity ratio of 0.06. With a 52-week low of $68.50 and a high of $91.15, RLI's market capitalization is approximately $6.61 billion, featuring a P/E ratio of 23.70 and a beta of 0.70.
The insurance provider reported its earnings for the quarter ending April 23rd, posting an EPS of $0.92, surpassing analysts' expectations of $0.88. RLI's return on equity was reported at 16.26%, with a net margin of 16.22%. However, the company experienced a decline in quarterly revenue, down 8.3% compared to the same period last year.
RLI also announced an increase in its quarterly dividend, paying $0.16 per share on June 20th to shareholders of record on May 30th. This translates to a $0.64 annualized dividend yield of 0.89%, an improvement from the previous $0.15 dividend.
Institutional investors have shown significant interest in RLI, with several increasing their stakes in the company. Notable among them is Golden State Wealth Management LLC, which doubled its position, now owning 372 shares. In total, institutional investors and hedge funds hold 77.89% of RLI’s stock.
RLI Corp, a renowned insurance holding company, specializes in underwriting property and casualty insurance. Its casualty segment offers both commercial and personal coverage products, including general liability coverage for third-party liabilities among various commercial entities.
As investors keep a close watch on RLI, the stock's performance and future potential remain crucial for stakeholders looking for steady and reliable investment opportunities in the insurance sector.