Keefe, Bruyette & Woods Boosts RLI (NYSE:RLI) Price Target to $88.00
RLI (NYSE:RLI) had its price target boosted by Keefe, Bruyette & Woods from $81.00 to $88.00 in a research report report published on Friday, BenzingaRatingsTable reports. They currently have a market perform rating on the insurance provider’s stock.
RLI has been the topic of several other reports. Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a research note on Thursday, May 9th. TheStreet cut WCF Bancorp from a c rating to a d+ rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $75.00.
Shares of RLI stock opened at $88.96 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $87.69. The stock has a market cap of $3.96 billion, a PE ratio of 43.40 and a beta of 0.79. RLI has a one year low of $64.48 and a one year high of $91.49.
In other news, Director Michael J. Stone sold 1,433 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $85.61, for a total transaction of $122,679.13. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Stone sold 15,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $79.19, for a total value of $1,187,850.00. The disclosure for this sale can be found here. Insiders own 5.01% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in RLI during the 4th quarter worth $22,559,000. JPMorgan Chase & Co. increased its holdings in RLI by 21.3% in the first quarter. JPMorgan Chase & Co. now owns 1,482,889 shares of the insurance provider’s stock valued at $106,397,000 after buying an additional 260,243 shares during the last quarter. Deutsche Bank AG increased its holdings in RLI by 91.6% in the fourth quarter. Deutsche Bank AG now owns 157,999 shares of the insurance provider’s stock valued at $10,898,000 after buying an additional 75,522 shares during the last quarter. WINTON GROUP Ltd grew its holdings in shares of RLI by 492.9% during the second quarter. WINTON GROUP Ltd now owns 58,039 shares of the insurance provider’s stock worth $4,975,000 after purchasing an additional 48,250 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its position in RLI by 24.2% in the first quarter. Global Alpha Capital Management Ltd. now owns 199,204 shares of the insurance provider’s stock valued at $14,293,000 after purchasing an additional 38,800 shares during the period. Hedge funds and other institutional investors own 89.48% of the company’s stock.
RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.
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