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

RLI (NYSE:RLI) had its target price decreased 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 firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 33.27% from the company’s current price.

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

RLI Stock Performance

Shares of RLI stock traded down $3.37 during midday trading on Friday, reaching $150.07. 38,722 shares of the company were exchanged, compared to its average volume of 213,466. RLI has a 12 month low of $134.07 and a 12 month high of $182.29. The company has a market cap of $6.88 billion, a P/E ratio of 16.49 and a beta of 0.47. The company’s 50 day moving average price is $169.06 and its two-hundred day moving average price is $156.58.

RLI’s stock is scheduled to split before the market opens on Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly minted shares will be distributed to shareholders after the closing bell on Wednesday, January 15th.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.33. The company had revenue of $470.00 million for the quarter, compared to analysts’ expectations 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 posted $0.61 EPS. As a group, sell-side analysts predict that RLI will post 5.85 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael J. Stone sold 200 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $169.55, for a total value of $33,910.00. Following the completion of the sale, the director now directly owns 214,811 shares of the company’s stock, valued at $36,421,205.05. This represents a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.91% of the stock is owned by corporate insiders.

Institutional Trading of RLI

A number of large investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. grew its stake in shares of RLI by 0.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,879 shares of the insurance provider’s stock worth $1,221,000 after acquiring an additional 66 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of RLI by 1.2% in the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock valued at $892,000 after buying an additional 68 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after buying an additional 71 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of RLI by 5.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock valued at $230,000 after buying an additional 89 shares during the last quarter. 77.89% of the stock is owned by 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.