RLI (NYSE:RLI) Given a $95.00 Price Target by Royal Bank of Canada Analysts
RLI (NYSE:RLI) has been given a $95.00 target price by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, TipRanks reports. The brokerage presently has a “hold” rating on the insurance provider’s stock. Royal Bank of Canada’s price objective indicates a potential downside of 2.75% from the company’s previous close.
Other analysts have also issued research reports about the company. JMP Securities restated a “hold” rating on shares of RLI in a report on Monday, September 23rd. B. Riley restated a “neutral” rating on shares of RLI in a report on Tuesday, October 15th. ValuEngine lowered RLI from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upped their price objective on RLI from $81.00 to $88.00 and gave the company a “market perform” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $80.75.
Shares of RLI stock traded up $1.45 during trading on Friday, hitting $97.69. The stock had a trading volume of 174,692 shares, compared to its average volume of 133,492. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.37 and a quick ratio of 0.38. The firm has a market cap of $4.31 billion, a P/E ratio of 47.65 and a beta of 0.75. The business has a fifty day moving average of $91.81 and a two-hundred day moving average of $86.84. RLI has a fifty-two week low of $64.48 and a fifty-two week high of $98.11.
In other news, Director Michael J. Stone sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $91.94, for a total transaction of $1,379,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael E. Angelina bought 1,000 shares of RLI stock in a transaction dated Thursday, August 29th. The shares were bought at an average cost of $90.79 per share, with a total value of $90,790.00. The disclosure for this purchase can be found here. Corporate insiders own 5.01% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in RLI. Swiss National Bank raised its position in RLI by 2.2% during the second quarter. Swiss National Bank now owns 70,400 shares of the insurance provider’s stock valued at $6,034,000 after buying an additional 1,500 shares during the period. UBS Asset Management Americas Inc. raised its position in RLI by 13.9% during the second quarter. UBS Asset Management Americas Inc. now owns 39,583 shares of the insurance provider’s stock valued at $3,393,000 after buying an additional 4,832 shares during the period. Creative Planning raised its position in RLI by 1.2% during the second quarter. Creative Planning now owns 14,581 shares of the insurance provider’s stock valued at $1,250,000 after buying an additional 170 shares during the period. Morgan Stanley raised its position in RLI by 36.8% during the second quarter. Morgan Stanley now owns 299,052 shares of the insurance provider’s stock valued at $25,632,000 after buying an additional 80,514 shares during the period. Finally, WINTON GROUP Ltd raised its position in RLI by 492.9% during the second quarter. WINTON GROUP Ltd now owns 58,039 shares of the insurance provider’s stock valued at $4,975,000 after buying an additional 48,250 shares during the period. 88.29% of the stock is owned by institutional investors and hedge funds.
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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