RLI (NYSE:RLI) Price Target Increased to $175.00 by Analysts at Compass Point

RLI (NYSE:RLI) had its price objective boosted by Compass Point from $158.00 to $175.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

RLI has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their target price on RLI from $160.00 to $168.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. JMP Securities restated a market perform rating on shares of RLI in a report on Tuesday. Finally, Royal Bank of Canada lifted their target price on RLI from $148.00 to $155.00 and gave the stock a sector perform rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $163.25.

RLI Stock Up 1.3 %

RLI opened at $147.64 on Wednesday. The stock has a market cap of $6.75 billion, a P/E ratio of 20.39 and a beta of 0.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.38. RLI has a 12 month low of $123.04 and a 12 month high of $149.20. The stock’s 50 day moving average price is $144.65 and its 200 day moving average price is $138.92.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.26. RLI had a net margin of 20.96% and a return on equity of 17.24%. The business had revenue of $444.80 million during the quarter, compared to the consensus estimate of $460.05 million. During the same quarter in the prior year, the company posted $1.63 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, research analysts predict that RLI will post 5.56 earnings per share for the current year.

RLI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Thursday, February 29th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Wednesday, February 28th. RLI’s payout ratio is 14.92%.

Institutional Investors Weigh In On RLI

Hedge funds have recently modified their holdings of the stock. Maren Capital LLC purchased a new position in RLI in the 4th quarter worth about $67,149,000. Norges Bank acquired a new stake in shares of RLI during the fourth quarter valued at approximately $52,592,000. Charles Schwab Investment Management Inc. raised its holdings in shares of RLI by 39.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 400,532 shares of the insurance provider’s stock valued at $54,428,000 after acquiring an additional 112,988 shares during the period. Van Berkom & Associates Inc. lifted its position in shares of RLI by 18.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock valued at $71,570,000 after acquiring an additional 80,552 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in RLI by 65.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 203,046 shares of the insurance provider’s stock worth $27,029,000 after purchasing an additional 80,451 shares during the period. 77.89% of the stock is owned by hedge funds and other institutional investors.

RLI Company Profile

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.