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

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

RLI has been the subject of several other reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $155.00 target price on shares of RLI in a research report on Wednesday, July 24th. JMP Securities restated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Jefferies Financial Group lowered their price objective on shares of RLI from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, June 14th. Finally, Compass Point lowered their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Three equities 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 company presently has an average rating of “Moderate Buy” and an average price target of $166.25.

RLI Trading Up 0.3 %

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

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $561.60 million. During the same period last year, the business earned $1.16 earnings per share. RLI’s revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that RLI will post 6.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RLI. Maren Capital LLC purchased a new position in RLI during the 4th quarter valued at $67,149,000. Norges Bank bought a new stake in shares of RLI during the 4th quarter valued at $52,592,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of RLI by 237.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider’s stock valued at $30,864,000 after buying an additional 146,324 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of RLI by 65.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 203,046 shares of the insurance provider’s stock valued at $27,029,000 after buying an additional 80,451 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of RLI by 585.0% during the 1st quarter. Russell Investments Group Ltd. now owns 41,649 shares of the insurance provider’s stock valued at $6,184,000 after buying an additional 35,569 shares in the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

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.