Jefferies Financial Group Boosts RLI (NYSE:RLI) Price Target to $180.00

RLI (NYSE:RLI) had its target price upped by equities research analysts at Jefferies Financial Group from $165.00 to $180.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s price target points to a potential upside of 14.95% from the company’s current price.

Several other equities analysts have also issued reports on the company. Wolfe Research initiated coverage on RLI in a research note on Wednesday. They issued an “outperform” rating and a $182.00 price target on the stock. JMP Securities restated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $162.00 price objective on shares of RLI in a report on Tuesday. Keefe, Bruyette & Woods boosted their price objective on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Compass Point decreased their price objective on RLI from $175.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Two 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $173.80.

RLI Stock Up 3.0 %

RLI traded up $4.49 during trading on Wednesday, hitting $156.59. The company’s stock had a trading volume of 52,913 shares, compared to its average volume of 152,996. RLI has a twelve month low of $125.77 and a twelve month high of $160.47. The stock’s fifty day moving average price is $151.60 and its 200-day moving average price is $146.02. The firm has a market capitalization of $7.16 billion, a P/E ratio of 21.63 and a beta of 0.41.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The firm had revenue of $416.44 million for the quarter, compared to analyst estimates of $561.60 million. During the same period in the previous year, the firm earned $1.16 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts expect that RLI will post 6.14 EPS for the current fiscal year.

Institutional Investors Weigh In On RLI

Institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. grew its holdings in RLI by 620.0% during the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after buying an additional 155 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in RLI by 45.6% during the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after buying an additional 77 shares in the last quarter. American National Bank bought a new stake in RLI during the second quarter worth $35,000. Riverview Trust Co bought a new stake in RLI during the first quarter worth $44,000. Finally, Intelligent Financial Strategies bought a new stake in RLI during the first quarter worth $45,000. Institutional investors 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.