RLI (NYSE:RLI - Get Free Report)'s stock had its "hold (c)" rating restated by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.
RLI has been the subject of several other reports. Truist Financial set a $62.00 price target on RLI and gave the company a "hold" rating in a report on Friday, October 3rd. Wall Street Zen raised RLI from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $72.80.
Check Out Our Latest Research Report on RLI
RLI Stock Up 0.5%
RLI opened at $65.36 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.35 and a quick ratio of 0.35. The business has a 50 day simple moving average of $66.35 and a 200-day simple moving average of $71.36. The stock has a market capitalization of $6.00 billion, a P/E ratio of 18.73 and a beta of 0.60. RLI has a 12 month low of $62.04 and a 12 month high of $91.14.
RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The insurance provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. The business had revenue of $562.28 million during the quarter, compared to analysts' expectations of $445.55 million. RLI had a return on equity of 15.82% and a net margin of 17.81%.The company's quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the firm earned $1.72 EPS. On average, equities analysts anticipate that RLI will post 3.08 earnings per share for the current fiscal year.
Insider Buying and Selling at RLI
In related news, COO Jennifer L. Klobnak purchased 3,000 shares of the business's stock in a transaction dated Thursday, July 24th. The stock was bought at an average cost of $69.15 per share, with a total value of $207,450.00. Following the completion of the acquisition, the chief operating officer directly owned 98,450 shares in the company, valued at $6,807,817.50. The trade was a 3.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.16% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On RLI
Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its holdings in shares of 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 worth $27,000 after acquiring an additional 365 shares during the last quarter. Clarity Asset Management Inc. acquired a new position in shares of RLI in the second quarter worth $28,000. Chung Wu Investment Group LLC acquired a new position in shares of RLI in the second quarter worth $29,000. Golden State Wealth Management LLC raised its holdings in shares of RLI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 372 shares of the insurance provider's stock worth $30,000 after acquiring an additional 186 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of RLI by 3,645.5% in the second quarter. Hantz Financial Services Inc. now owns 412 shares of the insurance provider's stock worth $30,000 after acquiring an additional 401 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.
About RLI
(
Get Free Report)
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.
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