Keefe, Bruyette & Woods Cuts RLI (NYSE:RLI) Price Target to $81.00

RLI (NYSE:RLI) had its price target cut by Keefe, Bruyette & Woods from $85.00 to $81.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Several other analysts have also recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of RLI in a report on Wednesday, October 8th. Truist Financial set a $62.00 target price on shares of RLI and gave the stock a “hold” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.00.

RLI Stock Performance

Shares of RLI stock opened at $61.00 on Tuesday. RLI has a 12 month low of $57.75 and a 12 month high of $81.79. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.60 billion, a PE ratio of 16.01 and a beta of 0.54. The business has a fifty day simple moving average of $63.11 and a 200-day simple moving average of $65.41.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The firm had revenue of $509.26 million for the quarter, compared to analyst estimates of $444.75 million. During the same period in the previous year, the firm earned $1.31 earnings per share. On average, sell-side analysts anticipate that RLI will post 3.08 EPS for the current fiscal year.

RLI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, November 28th were paid a $0.16 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. RLI’s dividend payout ratio (DPR) is presently 16.80%.

Institutional Investors Weigh In On RLI

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of RLI in the second quarter worth $221,000. Equitable Trust Co. boosted its holdings in RLI by 60.0% in the 2nd quarter. Equitable Trust Co. now owns 13,013 shares of the insurance provider’s stock valued at $940,000 after purchasing an additional 4,880 shares during the period. Inspire Investing LLC boosted its holdings in RLI by 111.6% in the 1st quarter. Inspire Investing LLC now owns 5,146 shares of the insurance provider’s stock valued at $413,000 after purchasing an additional 2,714 shares during the period. AGF Management Ltd. grew its position in RLI by 12.4% in the 2nd quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock worth $2,885,000 after purchasing an additional 4,419 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in shares of RLI by 228.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 140,971 shares of the insurance provider’s stock worth $10,181,000 after purchasing an additional 98,049 shares during the period. 77.89% of the stock is currently owned by institutional investors.

RLI Company Profile

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.