RLI (NYSE:RLI) PT Raised to $180.00 at Jefferies Financial Group

RLI (NYSE:RLI) had its target price raised by equities researchers at Jefferies Financial Group from $165.00 to $180.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s target price points to a potential upside of 14.61% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $162.00 target price on shares of RLI in a research note on Tuesday. Compass Point cut their target price on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods raised their target price on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Wolfe Research initiated coverage on shares of RLI in a research note on Wednesday. They set an “outperform” rating and a $182.00 target price for the company. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $173.80.

RLI Price Performance

Shares of RLI stock opened at $157.05 on Wednesday. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 21.69 and a beta of 0.41. RLI has a one year low of $125.77 and a one year high of $160.47. The company’s fifty day moving average price is $151.71 and its 200-day moving average price is $146.09.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.35 by $0.37. The firm had revenue of $416.44 million for the quarter, compared to the consensus estimate of $561.60 million. RLI had a net margin of 20.78% and a return on equity of 18.33%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS. Equities research analysts expect that RLI will post 6.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RLI

A number of large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in shares of RLI by 9.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,819 shares of the insurance provider’s stock worth $747,000 after purchasing an additional 401 shares during the period. Inspire Investing LLC boosted its stake in shares of RLI by 6.8% during the 3rd quarter. Inspire Investing LLC now owns 2,671 shares of the insurance provider’s stock worth $414,000 after purchasing an additional 169 shares during the period. UMB Bank n.a. boosted its stake in shares of RLI by 620.0% during the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 155 shares during the period. CWM LLC boosted its stake in shares of RLI by 3.4% during the 3rd quarter. CWM LLC now owns 3,875 shares of the insurance provider’s stock worth $601,000 after purchasing an additional 126 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of RLI by 42.5% during the 3rd quarter. GAMMA Investing LLC now owns 785 shares of the insurance provider’s stock worth $122,000 after purchasing an additional 234 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

About RLI

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.