RLI (NYSE: RLI) rating downgraded to stay at Zacks Investment Research
RLI (NYSE: RLI) has been downgraded from Zacks investment research from a “purchase” note to a “conservation” note in a note issued to investors on Monday, Zacks.com reports. They currently have a price target of $ 106.00 on the insurer’s stock. Zacks investment researchThe target stock price would indicate a potential rise of 1.85% from the stock’s previous close.
According to Zacks, “RLI Corp. is one of the most profitable property and casualty insurers in the industry with an impressive record of underwriting profits. A strong network of local branches, a wide range of products, a concentration on specialized insurance lines contribute to its profits. Underwriting discipline helps keep the combined ratios at favorable levels. Maintaining the combined ratio at favorable levels, even in the most difficult operating environment, reflects superior underwriting discipline. Its decision to ditch the underperforming products of its real estate business is also auspicious. operating subsidiaries. Its stocks have underperformed its industry in a year. However, exposure to catastrophic losses and escalating spending is of concern as it can strain margin expansion. High financial leverage ratio.
Several other analysts have also published reports on the stock. Royal Bank of Canada increased its price target for RLI shares from $ 110.00 to $ 115 and assigned the company a “sector performance” rating in a research report released on Friday, April 23. B. Riley increased his price target for RLI shares from $ 120.00 to $ 130.00 and gave the company a “buy” rating in a research report on Tuesday, March 9. Four investment analysts rated the stock with a conservation rating and one issued a buy rating for the company’s stock. The company currently has an average rating of “Hold” and an average price target of $ 112.25.
RLI stock traded up $ 2.61 at midday Monday, reaching $ 104.07. The company had a trading volume of 985 shares, compared to its average volume of 128,947. The stock has a market cap of $ 4.70 billion, a price / earnings ratio of 16.24, and a beta of 0 , 37. The company has a debt to equity ratio of 0.13, a quick ratio of 0.39, and a current ratio of 0.39. RLI has a 12 month low of $ 74.84 and a 12 month high of $ 117.84. The company’s fifty-day moving average is $ 108.73.
RLI (NYSE: RLI) last reported its quarterly results on Tuesday, April 20. The insurance provider reported EPS of $ 0.87 for the quarter, beating the consensus estimate of $ 0.65 by $ 0.22. The company posted revenue of $ 287.33 million for the quarter, compared to analysts’ estimate of $ 243.09 million. RLI had a net margin of 25.27% and a return on equity of 11.48%. The company’s revenue for the quarter increased 143.3% year-over-year. In the same quarter of the previous year, the company posted earnings per share of $ 0.66. As a group, sell-side analysts predict that RLI will post 2.98 EPS for the current year.
A number of large investors have recently changed their holdings to RLI. FMR LLC increased its stake in RLI by 6.2% during the first quarter. FMR LLC now owns 2,342 shares of the insurance provider valued at $ 168,000 after acquiring 136 additional shares in the last quarter. SG Americas Securities LLC increased its stake in RLI by 513.5% during the fourth quarter. SG Americas Securities LLC now owns 11,570 shares of the insurance provider valued at $ 1,205,000 after acquiring an additional 9,684 shares in the last quarter. BlackRock Inc. increased its stake in RLI by 2.2% in the 4th quarter. BlackRock Inc. now owns 4,569,094 shares of the insurance provider valued at $ 475,871,000 after purchasing an additional 100,086 shares in the last quarter. Russell Investments Group Ltd. increased its stake in RLI by 238.3% in the 4th quarter. Russell Investments Group Ltd. now owns 12,058 shares of the insurance provider valued at $ 1,253,000 after purchasing an additional 8,494 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in RLI by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 124,131 shares of the insurance provider valued at $ 12,928,000 after purchasing an additional 4,130 shares in the last quarter. 83.84% of the capital is held by institutional investors.
RLI Company Profile
RLI Corp., an insurance holding company, underwrites P&C insurance in the United States and internationally. Its Property & Casualty segment provides commercial and personal coverage products; and general liability products, such as liability coverage for commercial policyholders, including manufacturers, contractors, apartments and traders.
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