RLI (NYSE:RLI) Raised to Hold at Wells Fargo & Company

RLI (NYSE:RLI) was upgraded by investment analysts at Wells Fargo & Company to a “hold” rating in a research report issued on Thursday, MarketBeat reports. The firm presently has a $62.00 price objective on the insurance provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 4.57% from the company’s previous close.

RLI has been the subject of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLI in a research report on Wednesday, October 8th. Truist Financial set a $62.00 target price on shares of RLI and gave the company a “hold” rating in a research report on Friday, October 3rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of RLI from $85.00 to $81.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 6th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, RLI has a consensus rating of “Hold” and a consensus price target of $70.33.

RLI Price Performance

Shares of RLI stock opened at $59.29 on Thursday. The firm has a fifty day moving average price of $63.02 and a two-hundred day moving average price of $64.88. RLI has a fifty-two week low of $57.75 and a fifty-two week high of $81.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $5.44 billion, a PE ratio of 15.56 and a beta of 0.54.

RLI (NYSE:RLI) last released its earnings results on Monday, October 20th. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.21. RLI had a return on equity of 16.51% and a net margin of 19.02%.The business had revenue of $509.26 million for the quarter, compared to the consensus estimate of $444.75 million. During the same period last year, the business earned $1.31 earnings per share. Analysts expect that RLI will post 3.08 EPS for the current year.

Institutional Trading of RLI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new position in RLI during the 2nd quarter worth $221,000. Equitable Trust Co. raised its position in shares of RLI by 60.0% during the second quarter. Equitable Trust Co. now owns 13,013 shares of the insurance provider’s stock worth $940,000 after acquiring an additional 4,880 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of RLI by 228.4% during the second quarter. Mutual of America Capital Management LLC now owns 140,971 shares of the insurance provider’s stock valued at $10,181,000 after acquiring an additional 98,049 shares during the period. AGF Management Ltd. boosted its holdings in RLI by 12.4% in the second quarter. AGF Management Ltd. now owns 39,948 shares of the insurance provider’s stock valued at $2,885,000 after acquiring an additional 4,419 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in RLI by 222.1% in the second quarter. Hsbc Holdings PLC now owns 36,461 shares of the insurance provider’s stock worth $2,613,000 after purchasing an additional 25,140 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Company Profile

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.