RLI (NYSE:RLI) Raised to Strong-Buy at Keefe, Bruyette & Woods

RLI (NYSE:RLI) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

RLI has been the subject of several other research reports. Citizens Jmp reiterated a “market perform” rating on shares of RLI in a research report on Friday, January 23rd. Truist Financial set a $58.00 price target on RLI in a report on Friday, January 23rd. Wells Fargo & Company set a $59.00 price objective on shares of RLI and gave the company an “equal weight” rating in a report on Friday, January 23rd. Zacks Research cut shares of RLI from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Finally, Jefferies Financial Group raised shares of RLI from an “underperform” rating to a “hold” rating and set a $52.00 target price on the stock in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.20.

RLI Price Performance

Shares of RLI stock opened at $61.69 on Tuesday. RLI has a one year low of $55.80 and a one year high of $81.79. The company’s fifty day moving average price is $61.21 and its 200-day moving average price is $63.10. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 14.15 and a beta of 0.53.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, January 21st. The insurance provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.18. RLI had a net margin of 21.43% and a return on equity of 18.67%. The company had revenue of $465.69 million during the quarter, compared to the consensus estimate of $447.53 million. During the same quarter in the prior year, the firm posted $0.41 EPS. Equities research analysts expect that RLI will post 3.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RLI news, COO Jennifer L. Klobnak bought 2,000 shares of RLI stock in a transaction dated Friday, January 23rd. The shares were purchased at an average cost of $57.99 per share, for a total transaction of $115,980.00. Following the acquisition, the chief operating officer directly owned 100,318 shares in the company, valued at approximately $5,817,440.82. This represents a 2.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Craig W. Kliethermes purchased 5,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average cost of $57.45 per share, with a total value of $287,250.00. Following the acquisition, the chief executive officer owned 143,990 shares in the company, valued at $8,272,225.50. The trade was a 3.60% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RLI

Several institutional investors have recently made changes to their positions in RLI. Quent Capital LLC bought a new position in RLI in the third quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its holdings in shares of RLI by 94.4% in the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after buying an additional 201 shares during the period. Clarity Asset Management Inc. bought a new position in shares of RLI during the 2nd quarter worth $28,000. Hantz Financial Services Inc. increased its stake in shares of RLI by 3,645.5% during the second quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock valued at $30,000 after buying an additional 401 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of RLI by 156.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after buying an additional 283 shares during the period. Institutional investors own 77.89% of the company’s stock.

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.