Keefe, Bruyette & Woods Raises RLI (NYSE:RLI) Price Target to $175.00

RLI (NYSE:RLI) had its target price lifted by analysts at Keefe, Bruyette & Woods from $169.00 to $175.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 18.68% from the company’s current price.

Several other equities research analysts have also commented on the stock. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Compass Point lowered their target price on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group lowered their target price on shares of RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $155.00 price target on shares of RLI in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $166.25.

RLI Trading Up 0.3 %

Shares of RLI stock traded up $0.48 during trading hours on Monday, hitting $147.45. The company’s stock had a trading volume of 16,791 shares, compared to its average volume of 164,694. The stock has a market cap of $6.75 billion, a PE ratio of 20.37 and a beta of 0.41. RLI has a 12-month low of $125.77 and a 12-month high of $149.20. The company has a 50 day moving average of $141.87 and a 200 day moving average of $142.93.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.35 by $0.37. RLI had a net margin of 20.78% and a return on equity of 18.33%. The company had revenue of $416.44 million for the quarter, compared to analyst estimates of $561.60 million. During the same period in the prior year, the company earned $1.16 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, analysts anticipate that RLI will post 6.05 earnings per share for the current fiscal year.

Institutional Trading of RLI

A number of hedge funds and other institutional investors have recently made changes to their positions in RLI. Whittier Trust Co. of Nevada Inc. boosted its position in shares of RLI by 3.9% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 43,496 shares of the insurance provider’s stock worth $6,119,000 after purchasing an additional 1,620 shares during the period. Whittier Trust Co. boosted its position in shares of RLI by 5.2% during the 2nd quarter. Whittier Trust Co. now owns 83,745 shares of the insurance provider’s stock worth $11,782,000 after purchasing an additional 4,150 shares during the period. Argonautica Private Wealth Management Inc. boosted its position in shares of RLI by 5.1% during the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 2,762 shares of the insurance provider’s stock worth $389,000 after purchasing an additional 134 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its position in RLI by 7.5% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,689 shares of the insurance provider’s stock valued at $800,000 after buying an additional 397 shares during the period. Finally, Atomi Financial Group Inc. purchased a new position in RLI in the 2nd quarter valued at approximately $244,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

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.