RLI’s (RLI) “Market Perform” Rating Reiterated at JMP Securities

RLI (NYSE:RLI)‘s stock had its “market perform” rating reissued by research analysts at JMP Securities in a report released on Tuesday, Benzinga reports.

RLI has been the topic of several other research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $148.00 target price on shares of RLI in a research note on Friday, January 26th. Keefe, Bruyette & Woods increased their price target on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, RLI has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

RLI Trading Up 1.3 %

NYSE:RLI opened at $147.64 on Tuesday. RLI has a 1-year low of $123.04 and a 1-year high of $149.20. The business’s 50-day moving average price is $144.65 and its two-hundred day moving average price is $138.92. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 22.30 and a beta of 0.37.

RLI (NYSE:RLI) last released its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. RLI had a return on equity of 17.77% and a net margin of 20.96%. The firm had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities analysts expect that RLI will post 5.56 earnings per share for the current year.

Institutional Investors Weigh In On RLI

Several large investors have recently modified their holdings of RLI. JPMorgan Chase & Co. grew its holdings in shares of RLI by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock worth $147,097,000 after buying an additional 11,965 shares in the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of RLI by 18.1% during the third quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock worth $71,570,000 after buying an additional 80,552 shares in the last quarter. Maren Capital LLC bought a new position in shares of RLI during the fourth quarter worth about $67,149,000. Charles Schwab Investment Management Inc. grew its holdings in shares of RLI by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock worth $54,817,000 after buying an additional 11,255 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of RLI by 0.9% during the third quarter. Northern Trust Corp now owns 395,547 shares of the insurance provider’s stock worth $53,751,000 after buying an additional 3,562 shares in the last quarter. 77.89% of the stock is currently 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.