RLI (NYSE:RLI – Get Free Report) had its price target lowered by analysts at Royal Bank of Canada from $151.00 to $148.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the insurance provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 9.49% from the stock’s current price.
A number of other brokerages have also recently issued reports on RLI. Compass Point increased their target price on RLI from $165.00 to $170.00 in a report on Thursday, July 27th. Jefferies Financial Group assumed coverage on RLI in a report on Thursday, September 7th. They issued a “buy” rating and a $155.00 target price for the company. Finally, StockNews.com assumed coverage on RLI in a report on Thursday, October 5th. They issued a “hold” rating on the stock.
Check Out Our Latest Analysis on RLI
RLI Stock Down 0.2 %
RLI (NYSE:RLI – Get Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The insurance provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.53. RLI had a return on equity of 17.75% and a net margin of 20.00%. The company had revenue of $331.69 million during the quarter, compared to analyst estimates of $377.71 million. During the same period in the previous year, the company earned $0.50 earnings per share. As a group, equities analysts predict that RLI will post 4.28 EPS for the current fiscal year.
Institutional Trading of RLI
Institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. acquired a new stake in RLI during the 2nd quarter worth $969,000. Robeco Institutional Asset Management B.V. acquired a new stake in RLI in the second quarter worth $480,000. Caprock Group LLC acquired a new stake in RLI in the first quarter worth $387,000. Victory Capital Management Inc. raised its holdings in RLI by 5.3% in the second quarter. Victory Capital Management Inc. now owns 152,226 shares of the insurance provider’s stock worth $20,774,000 after purchasing an additional 7,628 shares during the period. Finally, Strs Ohio raised its holdings in RLI by 21.8% in the second quarter. Strs Ohio now owns 14,256 shares of the insurance provider’s stock worth $1,945,000 after purchasing an additional 2,556 shares during the period. Institutional investors and hedge funds own 79.23% of the company’s stock.
About RLI
RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. 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.
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