Wells Fargo & Company Upgrades RLI (NYSE:RLI) to Hold

RLI (NYSE:RLI) was upgraded by equities researchers at Wells Fargo & Company to a “hold” rating in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has a $62.00 price objective on the insurance provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 4.57% from the company’s previous close.

RLI has been the topic of several other research reports. Truist Financial set a $62.00 price objective on RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of RLI in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of RLI from $85.00 to $81.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $70.33.

RLI Stock Performance

NYSE RLI opened at $59.29 on Thursday. The stock has a market cap of $5.44 billion, a PE ratio of 15.56 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a 50-day moving average of $63.02 and a 200-day moving average of $64.88. RLI has a 52-week low of $57.75 and a 52-week high of $81.79.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.21. The firm had revenue of $509.26 million for the quarter, compared to analysts’ expectations of $444.75 million. RLI had a net margin of 19.02% and a return on equity of 16.51%. During the same period in the prior year, the firm earned $1.31 EPS. On average, sell-side analysts anticipate that RLI will post 3.08 EPS for the current year.

Institutional Investors Weigh In On RLI

Institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in RLI by 7,300.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 370 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 365 shares during the last quarter. Clarity Asset Management Inc. acquired a new stake in shares of RLI in the 2nd quarter valued at $28,000. Quent Capital LLC acquired a new stake in shares of RLI in the 3rd quarter valued at $26,000. Chung Wu Investment Group LLC bought a new position in shares of RLI in the 2nd quarter valued at $29,000. Finally, Hantz Financial Services Inc. lifted its position in shares of RLI by 3,645.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider’s stock worth $30,000 after buying an additional 401 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

RLI Company Profile

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.