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

RLI (NYSE:RLI) had its target price reduced by research analysts at Keefe, Bruyette & Woods from $201.00 to $200.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 33.54% from the company’s previous close.

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

RLI Price Performance

RLI stock opened at $149.77 on Friday. The company has a market cap of $6.86 billion, a PE ratio of 16.46 and a beta of 0.47. RLI has a 12 month low of $134.07 and a 12 month high of $182.29. The company has a fifty day moving average price of $168.91 and a two-hundred day moving average price of $156.74.

RLI shares are set to split before the market opens on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly created shares will be payable to shareholders after the closing bell on Wednesday, January 15th.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.33. The business had revenue of $470.00 million during the quarter, compared to analyst estimates of $491.54 million. RLI had a return on equity of 19.03% and a net margin of 23.77%. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. Equities research analysts anticipate that RLI will post 5.85 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of RLI

Several large investors have recently added to or reduced their stakes in RLI. Motiv8 Investments LLC acquired a new position in RLI during the third quarter valued at $217,000. Hsbc Holdings PLC lifted its position in shares of RLI by 117.7% in the second quarter. Hsbc Holdings PLC now owns 8,571 shares of the insurance provider’s stock worth $1,206,000 after purchasing an additional 4,634 shares in the last quarter. Bridges Investment Management Inc. purchased a new position in RLI during the second quarter valued at approximately $954,000. Bruce & Co. Inc. increased its stake in RLI by 1,020.0% in the 2nd quarter. Bruce & Co. Inc. now owns 22,400 shares of the insurance provider’s stock valued at $3,151,000 after buying an additional 20,400 shares during the period. Finally, Donaldson Capital Management LLC purchased a new stake in RLI in the 3rd quarter worth approximately $3,469,000. 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.