Keefe, Bruyette & Woods Issues Pessimistic Forecast for RLI (NYSE:RLI) Stock Price

RLI (NYSE:RLI) had its price objective cut by Keefe, Bruyette & Woods from $201.00 to $200.00 in a report published on Friday,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Several other research analysts also recently issued reports on RLI. Jefferies Financial Group upped their price target on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Oppenheimer assumed coverage on RLI in a report on Wednesday, October 16th. They set a “market perform” rating on the stock. Royal Bank of Canada lifted their target price on RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Wolfe Research started coverage on RLI in a research note on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price target on the stock. Finally, Compass Point boosted their price objective on RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, RLI presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.40.

RLI Stock Performance

Shares of NYSE RLI opened at $149.77 on Friday. The business has a fifty day moving average of $168.91 and a two-hundred day moving average of $156.64. RLI has a 52-week low of $134.07 and a 52-week high of $182.29. The stock has a market cap of $6.86 billion, a PE ratio of 16.46 and a beta of 0.47.

RLI shares are going to split on the morning of Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly minted shares will be issued to shareholders after the market closes on Wednesday, January 15th.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.33. The company had revenue of $470.00 million during the quarter, compared to analyst estimates of $491.54 million. RLI had a net margin of 23.77% and a return on equity of 19.03%. The company’s revenue was up 41.7% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. Analysts predict that RLI will post 5.85 earnings per share for the current year.

RLI Increases Dividend

The business also recently announced a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were paid a $4.29 dividend. This is a positive change from RLI’s previous None dividend of $2.25. The ex-dividend date was Friday, November 29th. This represents a yield of 0.7%. RLI’s dividend payout ratio is presently 12.75%.

Insiders Place Their Bets

In related news, Director Michael J. Stone sold 200 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $169.55, for a total value of $33,910.00. Following the sale, the director now directly owns 214,811 shares in the company, valued at $36,421,205.05. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.91% of the company’s stock.

Institutional Investors Weigh In On RLI

Several large investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its holdings in shares of RLI by 0.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,879 shares of the insurance provider’s stock valued at $1,221,000 after buying an additional 66 shares during the period. Klein Pavlis & Peasley Financial Inc. lifted its holdings in RLI by 1.2% during the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock worth $892,000 after acquiring an additional 68 shares in the last quarter. Versant Capital Management Inc grew its stake in RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 71 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of RLI by 45.6% in the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 77 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of RLI by 5.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock worth $230,000 after purchasing an additional 89 shares during the period. Institutional investors 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.