RLI (NYSE:RLI) Price Target Cut to $200.00 by Analysts at Keefe, Bruyette & Woods

RLI (NYSE:RLI) had its price target dropped by equities researchers at Keefe, Bruyette & Woods from $201.00 to $200.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 33.27% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Compass Point lifted their target price on RLI from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Jefferies Financial Group lifted 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. Wolfe Research initiated coverage on RLI in a research note on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price target on the stock. Oppenheimer initiated coverage on RLI in a research note on Wednesday, October 16th. They set a “market perform” rating on the stock. Finally, Royal Bank of Canada lifted their price target on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $182.40.

RLI Price Performance

RLI stock traded down $3.37 during mid-day trading on Friday, hitting $150.07. 38,722 shares of the company’s stock traded hands, compared to its average volume of 213,466. RLI has a fifty-two week low of $134.07 and a fifty-two week high of $182.29. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 16.49 and a beta of 0.47. The firm has a 50 day simple moving average of $169.06 and a two-hundred day simple moving average of $156.58.

Shares of RLI are going to split on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly created shares will be issued to shareholders after the closing bell on Wednesday, January 15th.

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

Insider Buying and Selling

In other RLI news, Director Michael J. Stone sold 200 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $169.55, for a total transaction of $33,910.00. Following the transaction, the director now directly owns 214,811 shares in the company, valued at approximately $36,421,205.05. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On RLI

Large investors have recently made changes to their positions in the business. UMB Bank n.a. increased its position in shares of RLI by 620.0% during the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 155 shares during the last quarter. Versant Capital Management Inc increased its holdings in RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 71 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in RLI in the 3rd quarter worth about $32,000. Nomura Asset Management Co. Ltd. increased its holdings 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, EverSource Wealth Advisors LLC increased its holdings in RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 77 shares during the last quarter. 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.