Keefe, Bruyette & Woods Analysts Give RLI Corp. (RLI) a $51.00 Price Target
RLI Corp. (NYSE:RLI) received a $51.00 target price from equities research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Wednesday. The brokerage presently has a “hold” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 11.49% from the company’s previous close.
Several other research firms have also recently commented on RLI. Zacks Investment Research cut RLI Corp. from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st. Finally, BidaskClub cut RLI Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. RLI Corp. has an average rating of “Hold” and an average price target of $46.50.
Shares of RLI Corp. (NYSE:RLI) opened at 57.62 on Wednesday. The company has a market cap of $2.54 billion, a P/E ratio of 25.50 and a beta of 1.24. RLI Corp. has a 1-year low of $50.34 and a 1-year high of $64.66. The firm has a 50-day moving average price of $55.55 and a 200-day moving average price of $55.82.
RLI Corp. (NYSE:RLI) last announced its earnings results on Wednesday, October 18th. The insurance provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.44). RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The firm had revenue of $196.20 million for the quarter, compared to analyst estimates of $195.89 million. During the same period in the previous year, the company earned $0.37 EPS. RLI Corp.’s revenue was down 4.9% compared to the same quarter last year. On average, equities analysts expect that RLI Corp. will post $1.81 EPS for the current year.
In other RLI Corp. news, Director Robert P. Restrepo, Jr. acquired 1,200 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average cost of $57.58 per share, for a total transaction of $69,096.00. Following the completion of the transaction, the director now owns 7,000 shares of the company’s stock, valued at approximately $403,060. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Stone sold 3,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $57.95, for a total value of $173,850.00. The disclosure for this sale can be found here. 6.09% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Flinton Capital Management LLC grew its position in RLI Corp. by 60.3% in the second quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock worth $109,000 after acquiring an additional 752 shares during the period. Riverhead Capital Management LLC grew its position in RLI Corp. by 64.0% in the second quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 896 shares during the period. Bank of Montreal Can grew its position in RLI Corp. by 5.8% in the second quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock worth $138,000 after acquiring an additional 139 shares during the period. Tudor Investment Corp ET AL purchased a new position in RLI Corp. in the first quarter worth approximately $203,000. Finally, Shelton Capital Management purchased a new position in RLI Corp. in the second quarter worth approximately $208,000. Institutional investors own 82.92% of the company’s stock.
About RLI Corp.
RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.
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