Keefe, Bruyette & Woods Reiterates Outperform Rating for RLI (NYSE:RLI)

RLI (NYSE:RLI)‘s stock had its “outperform” rating restated by stock analysts at Keefe, Bruyette & Woods in a report issued on Friday, Benzinga reports. They currently have a $168.00 target price on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 18.90% from the company’s current price.

A number of other research firms also recently weighed in on RLI. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday, April 23rd. Jefferies Financial Group reduced their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Compass Point upped their target price 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. Finally, Royal Bank of Canada upped their target price 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.75.

RLI Stock Down 0.8 %

NYSE:RLI opened at $141.30 on Friday. The stock has a market cap of $6.46 billion, a P/E ratio of 19.52 and a beta of 0.41. The firm’s fifty day simple moving average is $143.39 and its 200 day simple moving average is $141.51. RLI has a twelve month low of $125.77 and a twelve month high of $149.20.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. The business had revenue of $444.80 million for the quarter, compared to analysts’ expectations of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 earnings per share. On average, analysts expect that RLI will post 5.85 EPS for the current fiscal year.

Institutional Trading of RLI

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. purchased a new stake in RLI during the 4th quarter valued at about $25,000. Gladius Capital Management LP lifted its stake in RLI by 129.7% during the 3rd quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 153 shares during the period. Riverview Trust Co bought a new position in RLI during the 1st quarter valued at about $44,000. Intelligent Financial Strategies bought a new position in RLI during the 1st quarter valued at about $45,000. Finally, GAMMA Investing LLC bought a new position in RLI during the 4th quarter valued at about $41,000. 77.89% of the stock is owned by hedge funds and other institutional investors.

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.