RLI (NYSE:RLI) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of RLI Corp. (NYSE:RLI) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $156.53 and traded as high as $160.59. RLI shares last traded at $156.32, with a volume of 239,047 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RLI. Compass Point lifted their price target on RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada boosted their target price on RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Oppenheimer started coverage on shares of RLI in a research report on Wednesday, October 16th. They set a “market perform” rating for the company. Jefferies Financial Group increased their price target on shares of RLI from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wolfe Research assumed coverage on RLI in a report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, RLI presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.40.

RLI Price Performance

The firm has a market cap of $7.01 billion, a P/E ratio of 16.80 and a beta of 0.47. The company’s 50-day moving average is $169.12 and its two-hundred day moving average is $156.61.

RLI shares are scheduled to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, January 15th.

RLI (NYSE:RLI) last released its earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.33. The firm had revenue of $470.00 million for the quarter, compared to analysts’ expectations of $491.54 million. RLI had a return on equity of 19.03% and a net margin of 23.77%. The business’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, analysts expect that RLI Corp. will post 5.85 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently announced a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a $4.29 dividend. The ex-dividend date was Friday, November 29th. This represents a yield of 0.7%. This is a positive change from RLI’s previous None dividend of $2.25. RLI’s dividend payout ratio (DPR) is currently 12.75%.

Insider Transactions at RLI

In related news, Director Michael J. Stone sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $169.55, for a total value of $33,910.00. Following the completion of the transaction, the director now owns 214,811 shares in the company, valued at $36,421,205.05. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.91% of the company’s stock.

Hedge Funds Weigh In On RLI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its stake in shares of RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 155 shares during the last quarter. Versant Capital Management Inc lifted its holdings in RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after buying an additional 71 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of RLI in the 3rd quarter valued at about $32,000. Nomura Asset Management Co. Ltd. increased its stake in shares of RLI by 76.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of RLI by 45.6% during the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 77 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

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.