Keefe, Bruyette & Woods Boosts RLI (NYSE:RLI) Price Target to $168.00

RLI (NYSE:RLI - Get Free Report) had its price objective raised by equities researchers at Keefe, Bruyette & Woods from $160.00 to $168.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 18.71% from the stock's previous close.

Separately, Royal Bank of Canada reiterated a "sector perform" rating and set a $148.00 target price on shares of RLI in a research note on Friday, January 26th.

RLI Stock Down 0.0 %

Shares of RLI stock traded down $0.02 during trading hours on Wednesday, reaching $141.52. 100,512 shares of the company were exchanged, compared to its average volume of 176,658. RLI has a 1 year low of $123.04 and a 1 year high of $149.65. The stock's fifty day moving average is $144.45 and its 200 day moving average is $138.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $6.47 billion, a PE ratio of 21.38 and a beta of 0.37.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The insurance provider reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.10. RLI had a return on equity of 17.02% and a net margin of 20.15%. The business had revenue of $433.52 million for the quarter, compared to analyst estimates of $423.12 million. During the same quarter in the prior year, the company earned $1.53 earnings per share. The company's revenue was up 20.2% on a year-over-year basis. As a group, equities research analysts forecast that RLI will post 5.56 earnings per share for the current year.

Hedge Funds Weigh In On RLI

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. acquired a new position in RLI in the fourth quarter valued at $25,000. Eagle Bay Advisors LLC acquired a new position in RLI in the second quarter valued at $25,000. Compass Wealth Management LLC acquired a new position in RLI in the fourth quarter valued at $32,000. Gladius Capital Management LP boosted its stake in RLI by 129.7% in the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider's stock valued at $37,000 after acquiring an additional 153 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in RLI in the fourth quarter valued at $41,000. 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.