RLI (NYSE:RLI) Rating Reiterated by JMP Securities

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

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

RLI Stock Up 3.5 %

Shares of RLI traded up $4.93 during mid-day trading on Tuesday, hitting $146.17. 115,661 shares of the company’s stock were exchanged, compared to its average volume of 173,831. The firm has a fifty day moving average of $144.42 and a two-hundred day moving average of $138.79. RLI has a twelve month low of $123.04 and a twelve month high of $149.65. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 22.32 and a beta of 0.37. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.63 by $0.26. RLI had a net margin of 20.15% and a return on equity of 17.02%. The company had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. During the same quarter in the prior year, the business posted $1.63 EPS. RLI’s quarterly revenue was up 21.9% on a year-over-year basis. On average, sell-side analysts forecast that RLI will post 5.56 earnings per share for the current year.

Institutional Trading of RLI

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Maren Capital LLC acquired a new position in RLI during the fourth quarter worth $67,149,000. Norges Bank bought a new stake in RLI during the fourth quarter worth about $52,592,000. Charles Schwab Investment Management Inc. lifted its position in RLI by 39.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 400,532 shares of the insurance provider’s stock worth $54,428,000 after purchasing an additional 112,988 shares during the period. Van Berkom & Associates Inc. lifted its position in RLI by 18.1% during the third quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock worth $71,570,000 after purchasing an additional 80,552 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of RLI by 65.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 203,046 shares of the insurance provider’s stock worth $27,029,000 after acquiring an additional 80,451 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

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.