RLI (NYSE:RLI) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

RLI Corp. (NYSE:RLI)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $150.10 and traded as high as $175.04. RLI shares last traded at $174.76, with a volume of 134,248 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Oppenheimer started coverage on shares of RLI in a report on Wednesday, October 16th. They set a “market perform” rating on the stock. Wolfe Research started coverage on shares of RLI in a research note on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price objective on the stock. Compass Point boosted their price objective on shares of RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Jefferies Financial Group increased their target price on RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lifted their price target on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, RLI has an average rating of “Moderate Buy” and an average price target of $177.40.

RLI Price Performance

The stock’s 50-day moving average is $160.17 and its 200 day moving average is $150.50. The company has a market cap of $8.16 billion, a PE ratio of 19.56 and a beta of 0.41.

RLI’s stock is going to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, January 15th.

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

RLI Increases Dividend

The business also recently disclosed a None dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be issued a dividend of $4.29 per share. The ex-dividend date is Friday, November 29th. This represents a dividend yield of 0.7%. This is an increase from RLI’s previous None dividend of $2.25. RLI’s dividend payout ratio is 12.75%.

Institutional Trading of RLI

A number of institutional investors have recently bought and sold shares of RLI. SkyView Investment Advisors LLC increased its stake in RLI by 2.3% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,545 shares of the insurance provider’s stock valued at $704,000 after purchasing an additional 103 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of RLI by 4.4% during the third quarter. Coldstream Capital Management Inc. now owns 13,649 shares of the insurance provider’s stock valued at $2,116,000 after buying an additional 571 shares during the last quarter. Geode Capital Management LLC increased its position in shares of RLI by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider’s stock valued at $140,817,000 after acquiring an additional 50,654 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in RLI by 5.8% during the 3rd quarter. National Bank of Canada FI now owns 17,051 shares of the insurance provider’s stock worth $2,643,000 after acquiring an additional 936 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

About RLI

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.