RLI (NYSE:RLI) Given New $180.00 Price Target at Jefferies Financial Group

RLI (NYSE:RLI) had its target price hoisted by Jefferies Financial Group from $165.00 to $180.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

A number of other equities research analysts have also commented on RLI. Royal Bank of Canada reissued a sector perform rating and issued a $162.00 price target on shares of RLI in a research report on Tuesday. Keefe, Bruyette & Woods increased their target price on shares of RLI from $169.00 to $175.00 and gave the company an outperform rating in a report on Monday, July 29th. JMP Securities reissued a market perform rating on shares of RLI in a research report on Tuesday, July 23rd. Compass Point reduced their price objective on shares of RLI from $175.00 to $170.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Finally, Wolfe Research initiated coverage on shares of RLI in a research note on Wednesday. They issued an outperform rating and a $182.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $173.80.

RLI Price Performance

Shares of NYSE RLI opened at $156.25 on Wednesday. RLI has a 1 year low of $125.77 and a 1 year high of $160.47. The stock has a market capitalization of $7.15 billion, a P/E ratio of 21.58 and a beta of 0.41. The company has a 50-day moving average price of $151.60 and a 200-day moving average price of $146.02.

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

RLI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, August 30th. RLI’s dividend payout ratio is 16.02%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. lifted its stake in RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 155 shares during the last quarter. American National Bank bought a new stake in shares of RLI in the second quarter valued at $35,000. EverSource Wealth Advisors LLC lifted its position in shares of RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares during the last quarter. Riverview Trust Co bought a new position in shares of RLI during the 1st quarter worth $44,000. Finally, Intelligent Financial Strategies purchased a new stake in RLI in the 1st quarter worth about $45,000. 77.89% of the stock is owned by institutional investors.

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.