Keefe, Bruyette & Woods Cuts RLI (NYSE:RLI) Price Target to $200.00

RLI (NYSE:RLI) had its target price decreased by stock analysts at Keefe, Bruyette & Woods from $201.00 to $200.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 33.54% from the stock’s current price.

A number of other research analysts have also recently issued reports on RLI. Compass Point lifted their price objective on RLI from $170.00 to $185.00 and gave the company a “buy” rating in a report on Friday, October 25th. Jefferies Financial Group raised their price objective on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Oppenheimer started coverage on RLI in a research report on Wednesday, October 16th. They set a “market perform” rating on the stock. Royal Bank of Canada lifted their price objective on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Wolfe Research assumed coverage on RLI in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $182.40.

RLI Stock Performance

Shares of NYSE:RLI opened at $149.77 on Friday. The stock’s 50-day moving average is $168.91 and its 200-day moving average is $156.74. The company has a market cap of $6.86 billion, a P/E ratio of 16.46 and a beta of 0.47. RLI has a 52-week low of $134.07 and a 52-week high of $182.29.

Shares of RLI are scheduled to split on the morning of Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly created shares will be payable to shareholders after the market closes on Wednesday, January 15th.

RLI (NYSE:RLI) last posted its quarterly 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. The firm had revenue of $470.00 million for the quarter, compared to the consensus estimate of $491.54 million. RLI had a net margin of 23.77% and a return on equity of 19.03%. The business’s revenue was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 earnings per share. As a group, equities analysts predict that RLI will post 5.85 EPS for the current year.

Insider Activity

In other RLI news, Director Michael J. Stone sold 200 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $169.55, for a total transaction of $33,910.00. Following the sale, the director now directly owns 214,811 shares of the company’s stock, valued at $36,421,205.05. The trade was a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.09% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RLI. UMB Bank n.a. grew its position in shares of RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 155 shares during the period. V Square Quantitative Management LLC bought a new position in shares of RLI during the 3rd quarter worth approximately $32,000. Versant Capital Management Inc increased its holdings in shares of RLI by 53.8% during 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. Nomura Asset Management Co. Ltd. boosted its position in RLI by 76.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of RLI by 45.6% in the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 77 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

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.