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Why RLI Corp. (RLI) Should Be On Your Radar Moving Forward

January 25, 2023
in Finance

The stock of RLI Corp. (NYSE:RLI) last traded at $132.86, up 0.61% from the previous session.

Data from the available sources indicates that RLI Corp. (NYSE:RLI) is covered by 7 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $151.00 and a low of $123.00, we find $150.00. Given the previous closing price of $132.05, this indicates a potential upside of 13.59 percent. RLI stock price is now 2.55% away from the 50-day moving average and 17.27% away from the 200-day moving average. The market capitalization of the company currently stands at $6.11B.

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In total, 5 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $141.33 as their price target over the next twelve months.

On February 22, 2022, Compass Point Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $117, while ‘Keefe Bruyette’ rates the stock as ‘Outperform’.

In other news, Graham Jordan W, Director sold 500 shares of the company’s stock on Jun 02. The stock was sold for $60,335 at an average price of $120.67. Upon completion of the transaction, the Director now directly owns 5,720 shares in the company, valued at $0.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 01, Director STONE MICHAEL J sold 10,000 shares of the business’s stock. A total of $1,185,200 was realized by selling the stock at an average price of $118.52. This leaves the insider owning 223,346 shares of the company worth $29.67 million. Insiders disposed of 79,641 shares of company stock worth roughly $10.58 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.

There have been several recent changes in the stakes of large investors in RLI stock. A new stake in RLI Corp. shares was purchased by POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $11,293,000. CEREDEX VALUE ADVISORS LLC invested $9,717,000 in shares of RLI during the first quarter. In the first quarter, PUTNAM INVESTMENTS LLC acquired a new stake in RLI Corp. valued at approximately $6,458,000. BROOKFIELD CORP /ON/ acquired a new stake in RLI for approximately $3,930,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in RLI valued at around $3,585,000 in the second quarter. In total, there are 432 active investors with 82.70% ownership of the company’s stock.

With an opening price of $132.15 on Tuesday morning, RLI Corp. (NYSE: RLI) set off the trading day. During the past 12 months, RLI Corp. has had a low of $91.11 and a high of $140.69. The fifty day moving average price for RLI is $131.35 and a two-hundred day moving average price translates $118.28 for the stock.

The latest earnings results from RLI Corp. (NYSE: RLI) was released for Sep, 2022. The net profit margin was 35.00% and return on equity was 48.20% for RLI. For the current quarter, analysts expect RLI to generate $298.45M in revenue.

Moreover, the firm recently paid out its quarterly dividend on 12/20/2022. Investors who held shares on 11/30/2022 were paid a $7.00 dividend. On an annualized basis, this represents a $1.04 dividend and a 0.78% percent yield. There was an ex-dividend date of 11/29/2022 for this dividend. In terms of dividend payout ratio, RLI is presently at 7.90%.

RLI Corp.(RLI) Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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. It also offers coverages for security guards and in the areas of onshore energy-related businesses and environmental liability for underground storage tanks, contractors and asbestos, and environmental remediation specialists; and professional liability coverages focuses on providing errors and omission coverage to small to medium-sized design, technical, computer, and miscellaneous professionals. This segment provides commercial automobile liability and physical damage insurance to local, intermediate and long haul truckers, public transportation entities, and other types of specialty commercial automobile risks; incidental and related insurance coverages; inland marine coverages; management liability coverages, such as directors and officers liability insurance, fiduciary liability and coverages, employment practice liability, and for various classes of risks, including public and private businesses; and healthcare liability and home business insurance products. The company’s Property segment offers commercial property, cargo, hull, protection and indemnity, marine liability, inland marine, homeowners’ and dwelling fire, and other property insurance products. Its Surety segment offers commercial surety bonds for medium to large-sized businesses; small bonds for businesses and individuals; and bonds for small to medium-sized contractors. The company also underwrites various reinsurance coverages. It markets its products through branch offices, brokers, carrier partners, and underwriting and independent agents. RLI Corp. was founded in 1965 and is headquartered in Peoria, Illinois.

Tags: NYSE:RLIRLIRLI Corp.RLI stock

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