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Analysts unanimously recommend RLI Corp. (NYSE:RLI) as a “Moderate Buy.”

Originally published on Best Stocks

Category: best stocks to buy now

According to Bloomberg Ratings, the company RLI Corp. (NYSE: RLI) has been given an average “Hold” as a result of the recommendations of the six analysts currently covering the company. The analysts think that investors should continue to maintain a hold position, but there is one of them who suggests that investors buy the stock. In addition, the brokerage firms that covered the company the year before anticipate that it will achieve an average price target of $129.50 during the next year and that this price target will be reached.

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Recently, several research experts have made the results of their investigations regarding the RLI stock public. For example, Raymond James made his initial reference to RLI in a research note that was made public on June 7 and published by the company. They gave the stock a rating of “market performs” for its performance. In addition, compass Point said in a research report on Wednesday that the company had lowered its price goal for RLI to $150.00.
A variety of institutional investors, including hedge funds and other types of investment vehicles, have recently made modifications to the total number of shares they are currently holding in their portfolios. Thrivent Financial for Lutherans increased their stock holdings in RLI by 1.433 percent during the second quarter of this year. Thrivent Financial for Lutherans now has 403,554 shares of the insurance provider’s stock, which is $47,000,000. This results from purchasing an additional 377,233 shares during the relevant period. During the second quarter, Driehaus Capital Management LLC spent approximately $26,150,000 to acquire a larger ownership stake in RLI. Eaton Vance Management’s shareholdings in RLI increased by 24.4% during the first three months of 2018. Following the completion of the period, Eaton Vance Management acquired an additional 116,705 shares of the insurance provider’s stock, bringing the total number of shares it currently owns to 594,479. The total value of Eaton Vance Management’s stock holdings, as measured by the current market, is $65,767,000. The Philo Smith Capital Corporation increased its holdings in RLI by approximately $10,510,00 during the second quarter. During the first three months of this year, State Street Corporation increased the percentage of RLI shares it owned by 1.9%. State Street Corporation’s total stock holding value has increased to $4,723,116 due to the company’s recent purchase of an additional 89,655 shares of the insurance provider’s stock during the period in question. Institutional investors and hedge funds own most of the stock, accounting for 81.15 percent of the total.
The NYSE experienced a loss of $1.18 in value throughout trading on Wednesday, and the market ended the day at $105.08. The total number of company shares traded was 139,262, significantly less than the daily average of 151,134 shares. The stock has traded at an average price of $110.57 over the last 50 trading days, while the moving average price over the last 200 trading days is $112.86. This value is equivalent to a debt-to-equity ratio of 0.19, a quick ratio of 0.43, and a current ratio of 0.43. All of these ratios are expressed as a value of 0.43. During its 52-week trading range, RLI experienced a new all-time low of $96.22 and a new all-time high of $121.93. The company currently has a price-to-earnings ratio of 28.25, and the stock’s beta value is 0.37. The value of the stock on the market is approximately $4.77 billion.

On Wednesday, July 20, RLI (NYSE: RLI) disseminated the most recent quarterly earnings report that it has available for public consumption. The insurance company reported that it had earnings of $1.49 per share for the quarter, which is $0.47 more than the consensus estimate of $1.02 per share. During the year, I accumulated a net margin of 15.88% and an equity return of 18.64%. The company’s quarterly sales came in at $213.09 million, significantly less than the $299.99 million that industry analysts predicted to be the amount the company would earn in sales. However, compared to the previous year’s results for the same period, the company posted a profit of $1.09 per share. In addition, the revenue the company brought in during the quarter was down by 28.5% when measured against what it brought in during the same period the year before. According to projections made by analysts, RLI is expected to generate earnings of $4.85 per share for the current fiscal year. This is the company’s earnings expectation for the current fiscal year.

Additionally, the company recently announced a quarterly dividend, which was paid out on September 20 and distributed the following day. On Wednesday, August 31, shareholders who still owned their shares were eligible to receive a $0.26 dividend payment. This payment was made to stockholders who still owned their shares. This translates to a $1.04 annual dividend payment and a dividend yield of 0.90 percent on the stock. On Tuesday, August 30, the taxable status of this payout was changed to “no longer subject to taxation.” At the moment, RLI has a payout ratio that stands at 27.96%.

RLI Corporation is a holding company that offers services in underwriting and insurance. Asset management is the primary function of this organization. Surety, property, and casualty insurance, each in its own right, make up its three distinct business divisions. If they are incurred, transportation and medical costs will be covered by the insurance policy for the casualty. In addition to commercial fire, earthquake, the difference in circumstances, marine, facultative, and treaty reinsurance, the property segment manages crop and certain personal lines products. These products include pet insurance and homeowners’ reinsurance services. This division is also responsible for crop insurance and some personal lines products.

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