JMP Securities Reiterates “Market Perform” Rating for RLI (NYSE:RLI)

RLI (NYSE:RLI)‘s stock had its “market perform” rating reaffirmed by equities research analysts at JMP Securities in a research report issued to clients and investors on Tuesday, Benzinga reports.

A number of other brokerages have also recently weighed in on RLI. Keefe, Bruyette & Woods lifted their price target on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $148.00 target price on shares of RLI in a research note on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, RLI has a consensus rating of “Moderate Buy” and an average target price of $163.25.

RLI Trading Up 1.3 %

Shares of RLI opened at $147.64 on Tuesday. The business’s 50-day moving average price is $144.65 and its 200 day moving average price is $138.92. The stock has a market capitalization of $6.75 billion, a P/E ratio of 22.30 and a beta of 0.37. RLI has a 1-year low of $123.04 and a 1-year high of $149.20. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

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

Hedge Funds Weigh In On RLI

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of RLI by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after buying an additional 11,965 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of RLI by 18.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock valued at $71,570,000 after buying an additional 80,552 shares during the last quarter. Maren Capital LLC acquired a new stake in shares of RLI during the 4th quarter valued at about $67,149,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of RLI by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock valued at $54,817,000 after buying an additional 11,255 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of RLI by 0.9% during the 3rd quarter. Northern Trust Corp now owns 395,547 shares of the insurance provider’s stock valued at $53,751,000 after buying an additional 3,562 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

About RLI

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.