RLI (NYSE:RLI) Rating Reiterated by JMP Securities

RLI (NYSE:RLI)‘s stock had its “market perform” rating reaffirmed by equities research analysts at JMP Securities in a report issued on Tuesday, Benzinga reports.

Other analysts also recently issued research reports about the company. Royal Bank of Canada reissued a “sector perform” rating and set a $148.00 target price on shares of RLI in a research note on Friday, January 26th. Keefe, Bruyette & Woods lifted their price objective on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $160.25.

RLI Price Performance

RLI traded up $4.93 on Tuesday, hitting $146.17. 115,661 shares of the company’s stock traded hands, compared to its average volume of 173,831. The company’s 50 day simple moving average is $144.42 and its 200-day simple moving average is $138.79. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 22.32 and a beta of 0.37. RLI has a one year low of $123.04 and a one year high of $149.65. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI) last issued its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.26. The company had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. RLI had a return on equity of 17.02% and a net margin of 20.15%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the company earned $1.63 EPS. As a group, research analysts anticipate that RLI will post 5.56 EPS for the current year.

Hedge Funds Weigh In On RLI

Institutional investors and hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. purchased a new position in shares of RLI in the 3rd quarter worth approximately $661,000. Envestnet Asset Management Inc. boosted its holdings in shares of RLI by 28.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 76,124 shares of the insurance provider’s stock worth $10,344,000 after purchasing an additional 16,725 shares during the period. Resonant Capital Advisors LLC boosted its holdings in shares of RLI by 1.7% in the 3rd quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock worth $642,000 after purchasing an additional 77 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of RLI by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock worth $147,097,000 after purchasing an additional 11,965 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in RLI during the 3rd quarter valued at $840,000. Hedge funds and other 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.