RLI (NYSE:RLI) PT Lowered to $165.00 at Jefferies Financial Group

RLI (NYSE:RLI) had its price objective cut by equities researchers at Jefferies Financial Group from $170.00 to $165.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 18.16% from the stock’s current price.

A number of other brokerages also recently commented on RLI. Royal Bank of Canada lifted their price objective on RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods upped their price objective on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Tuesday, April 23rd. Finally, Compass Point upped their price target on shares of RLI from $158.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.75.

RLI Trading Down 0.3 %

NYSE:RLI opened at $139.64 on Friday. RLI has a 12-month low of $125.77 and a 12-month high of $149.20. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 19.29 and a beta of 0.41. The company’s 50-day moving average is $143.27 and its two-hundred day moving average is $141.30.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.26. The business had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. On average, equities research analysts forecast that RLI will post 5.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RLI

Several large investors have recently made changes to their positions in the business. Cetera Advisors LLC acquired a new position in RLI in the first quarter worth about $515,000. B. Riley Wealth Advisors Inc. boosted its position in RLI by 25.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,908 shares of the insurance provider’s stock worth $259,000 after acquiring an additional 383 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of RLI by 237.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 207,883 shares of the insurance provider’s stock worth $30,864,000 after buying an additional 146,324 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in RLI by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock valued at $39,400,000 after purchasing an additional 33,435 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in RLI in the first quarter worth about $130,000. Institutional investors and hedge funds 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.