RLI (NYSE:RLI) Price Target Lowered to $81.00 at Keefe, Bruyette & Woods

RLI (NYSE:RLI) had its price target lowered by stock analysts at Keefe, Bruyette & Woods from $85.00 to $81.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 32.34% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. Truist Financial set a $62.00 price objective on shares of RLI and gave the company a “hold” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, RLI presently has a consensus rating of “Hold” and an average target price of $72.00.

RLI Trading Down 1.9%

RLI stock traded down $1.22 during trading hours on Tuesday, reaching $61.20. The company had a trading volume of 193,038 shares, compared to its average volume of 488,971. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.35 and a quick ratio of 0.35. The company has a 50-day moving average price of $63.01 and a 200 day moving average price of $65.56. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 16.06 and a beta of 0.54. RLI has a 12-month low of $57.75 and a 12-month high of $81.79.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The firm had revenue of $509.26 million during the quarter, compared to analyst estimates of $444.75 million. During the same quarter in the prior year, the firm posted $1.31 earnings per share. Equities analysts forecast that RLI will post 3.08 earnings per share for the current year.

Institutional Trading of RLI

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of RLI by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,138,072 shares of the insurance provider’s stock worth $595,985,000 after acquiring an additional 148,019 shares during the period. State Street Corp grew its stake in RLI by 3.3% in the third quarter. State Street Corp now owns 8,750,315 shares of the insurance provider’s stock worth $570,696,000 after purchasing an additional 279,983 shares during the period. Maren Capital LLC grew its stake in RLI by 2.8% in the second quarter. Maren Capital LLC now owns 1,595,038 shares of the insurance provider’s stock worth $115,194,000 after purchasing an additional 42,985 shares during the period. JPMorgan Chase & Co. raised its holdings in RLI by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 1,422,596 shares of the insurance provider’s stock worth $92,782,000 after purchasing an additional 191,020 shares in the last quarter. Finally, Van Berkom & Associates Inc. lifted its position in RLI by 14.6% during the third quarter. Van Berkom & Associates Inc. now owns 1,229,649 shares of the insurance provider’s stock valued at $80,198,000 after buying an additional 156,241 shares during the period. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.