RLI (NYSE:RLI) Given New $82.00 Price Target at Compass Point

RLI (NYSE:RLI - Get Free Report) had its target price dropped by analysts at Compass Point from $185.00 to $82.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the insurance provider's stock. Compass Point's target price points to a potential upside of 13.08% from the company's previous close.

RLI has been the topic of a number of other research reports. Oppenheimer initiated coverage on RLI in a research note on Wednesday, October 16th. They issued a "market perform" rating on the stock. Keefe, Bruyette & Woods cut their price target on RLI from $100.50 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada dropped their price objective on RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Friday. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday. Finally, Jefferies Financial Group downgraded RLI from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $95.00 to $61.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, RLI has a consensus rating of "Hold" and a consensus target price of $82.80.

RLI Trading Up 0.1 %

NYSE RLI traded up $0.04 during trading hours on Monday, reaching $72.52. 689,241 shares of the company's stock were exchanged, compared to its average volume of 610,165. The stock has a market cap of $6.65 billion, a PE ratio of 19.36 and a beta of 0.47. RLI has a one year low of $67.04 and a one year high of $91.14. The firm has a fifty day moving average of $82.71 and a 200-day moving average of $78.91.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.38%. As a group, research analysts forecast that RLI will post 3.13 EPS for the current year.

Insider Activity

In related news, Director Michael J. Stone sold 400 shares of RLI stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $84.78, for a total transaction of $33,910.00. Following the completion of the transaction, the director now owns 429,622 shares in the company, valued at approximately $36,421,205.05. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RLI

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. lifted its position in RLI by 620.0% during the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider's stock worth $28,000 after acquiring an additional 155 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in RLI during the third quarter worth approximately $32,000. Versant Capital Management Inc lifted its position in RLI by 53.8% during the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in RLI by 76.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider's stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Finally, American National Bank & Trust lifted its position in RLI by 62.5% during the third quarter. American National Bank & Trust now owns 403 shares of the insurance provider's stock worth $62,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 77.89% of the company's stock.

RLI Company Profile

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.

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