RLI (NYSE:RLI) Given New $200.00 Price Target at Keefe, Bruyette & Woods

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

Other equities research analysts have also issued reports about the company. Wolfe Research began coverage on RLI in a report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price target for the company. Oppenheimer assumed coverage on shares of RLI in a research report on Wednesday, October 16th. They issued a “market perform” rating for the company. Compass Point raised their price target on shares of RLI from $170.00 to $185.00 and gave the company a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada upped their price objective on shares of RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group increased their target price 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. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $182.40.

RLI Trading Down 2.4 %

Shares of RLI stock opened at $149.77 on Friday. RLI has a 1 year low of $134.07 and a 1 year high of $182.29. The stock has a 50-day moving average price of $168.91 and a 200 day moving average price of $156.64. The company has a market cap of $6.86 billion, a P/E ratio of 16.46 and a beta of 0.47.

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

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.33. The business had revenue of $470.00 million for the quarter, compared to the consensus estimate of $491.54 million. RLI had a net margin of 23.77% and a return on equity of 19.03%. RLI’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 earnings per share. On average, equities analysts forecast that RLI will post 5.85 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were given a dividend of $4.29 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, November 29th. This is a boost from RLI’s previous None dividend of $2.25. RLI’s payout ratio is currently 12.75%.

Insider Activity

In other news, Director Michael J. Stone sold 200 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $169.55, for a total transaction of $33,910.00. Following the transaction, the director now owns 214,811 shares in the company, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On RLI

Hedge funds have recently made changes to their positions in the stock. Atlas Brown Inc. bought a new stake in shares of RLI in the 4th quarter worth approximately $285,000. Wealth Enhancement Advisory Services LLC acquired a new stake in RLI during the fourth quarter worth $208,000. GAMMA Investing LLC increased its holdings in RLI by 31.8% in the 4th quarter. GAMMA Investing LLC now owns 1,035 shares of the insurance provider’s stock valued at $171,000 after buying an additional 250 shares during the period. Versant Capital Management Inc raised its stake in shares of RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of RLI by 3.9% during the 3rd quarter. Retirement Systems of Alabama now owns 115,569 shares of the insurance provider’s stock worth $17,911,000 after acquiring an additional 4,322 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.