Keefe, Bruyette & Woods Cuts RLI (NYSE:RLI) Price Target to $85.00

RLI (NYSE:RLI - Get Free Report) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $95.00 to $85.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 9.93% from the stock's current price.

RLI has been the subject of a number of other reports. JMP Securities reissued a "market perform" rating on shares of RLI in a research report on Thursday, January 23rd. Compass Point cut their target price on shares of RLI from $185.00 to $82.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Royal Bank of Canada lowered their price target on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Jefferies Financial Group lowered RLI from a "buy" rating to an "underperform" rating and cut their price objective for the stock from $95.00 to $61.00 in a report on Monday, January 27th. Finally, StockNews.com upgraded RLI from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, RLI has an average rating of "Hold" and a consensus price target of $79.80.

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RLI Trading Up 1.0 %

NYSE RLI traded up $0.80 on Wednesday, hitting $77.32. 124,426 shares of the stock were exchanged, compared to its average volume of 357,296. The company's 50-day moving average price is $76.23 and its two-hundred day moving average price is $79.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38. RLI has a 52-week low of $67.53 and a 52-week high of $91.15. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 20.65 and a beta of 0.49.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share 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 16.63%. Research analysts predict that RLI will post 3.08 EPS for the current year.

Insider Activity

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $74.89, for a total value of $214,484.96. Following the sale, the director now directly owns 23,312 shares of the company's stock, valued at approximately $1,745,835.68. This trade represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jordan W. Graham sold 1,500 shares of RLI stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total value of $112,155.00. Following the completion of the transaction, the director now owns 12,854 shares in the company, valued at $961,093.58. The trade was a 10.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 11,200 shares of company stock valued at $805,774 over the last 90 days. 5.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RLI

Several hedge funds have recently modified their holdings of the business. Versant Capital Management Inc raised its stake in RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in RLI by 76.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 100 shares during the period. SkyView Investment Advisors LLC increased its position in shares of RLI by 2.3% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,545 shares of the insurance provider's stock worth $704,000 after purchasing an additional 103 shares in the last quarter. Brookstone Capital Management raised its stake in shares of RLI by 7.5% in the fourth quarter. Brookstone Capital Management now owns 1,827 shares of the insurance provider's stock valued at $301,000 after acquiring an additional 127 shares during the last quarter. Finally, Everhart Financial Group Inc. boosted its stake in RLI by 10.0% in the fourth quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider's stock worth $269,000 after purchasing an additional 148 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

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.