RLI’s (RLI) Outperform Rating Reiterated at Keefe, Bruyette & Woods

RLI (NYSE:RLIGet Free Report)‘s stock had its “outperform” rating reissued by stock analysts at Keefe, Bruyette & Woods in a research note issued on Friday, Benzinga reports. They currently have a $168.00 price objective on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 18.74% from the stock’s current price.

Several other equities analysts have also commented on RLI. Compass Point upped their price target on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, April 23rd. Royal Bank of Canada increased their price objective on shares of RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group dropped their price objective on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $165.75.

View Our Latest Analysis on RLI

RLI Stock Down 0.7 %

Shares of NYSE:RLI traded down $0.95 during trading on Friday, reaching $141.49. The stock had a trading volume of 31,175 shares, compared to its average volume of 159,185. The business has a fifty day moving average price of $143.31 and a 200-day moving average price of $141.45. The stock has a market cap of $6.47 billion, a P/E ratio of 19.60 and a beta of 0.41. RLI has a fifty-two week low of $125.77 and a fifty-two week high of $149.20.

RLI (NYSE:RLIGet Free Report) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. The business had revenue of $444.80 million during the quarter, compared to analyst estimates of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 earnings per share. As a group, equities analysts forecast that RLI will post 5.85 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commerce Bank boosted its stake in shares of RLI by 1.7% in the fourth quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock valued at $588,000 after purchasing an additional 75 shares during the period. Treasurer of the State of North Carolina boosted its stake in RLI by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 17,660 shares of the insurance provider’s stock valued at $2,400,000 after acquiring an additional 90 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in RLI by 3.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock valued at $434,000 after acquiring an additional 99 shares during the last quarter. Brookstone Capital Management boosted its stake in RLI by 6.4% during the 4th quarter. Brookstone Capital Management now owns 1,906 shares of the insurance provider’s stock valued at $254,000 after acquiring an additional 114 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in RLI by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 25,815 shares of the insurance provider’s stock valued at $3,832,000 after acquiring an additional 128 shares during the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

About RLI

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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.

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