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

RLI (NYSE:RLI) had its price target increased by Compass Point from $158.00 to $175.00 in a research report sent to investors on Wednesday, Benzinga reports. Compass Point currently has a buy rating on the insurance provider’s stock.

RLI has been the subject of a number of other research reports. Keefe, Bruyette & Woods boosted 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 research report on Tuesday. Finally, Royal Bank of Canada lifted their price target on shares of RLI from $148.00 to $155.00 and gave the stock a sector perform rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $163.25.

RLI Stock Up 1.3 %

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

RLI (NYSE:RLI) last announced its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. RLI had a net margin of 20.96% and a return on equity of 17.24%. The company had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. During the same period in the prior year, the business earned $1.63 earnings per share. RLI’s quarterly revenue was up 21.9% on a year-over-year basis. On average, research analysts expect that RLI will post 5.56 earnings per share for the current fiscal year.

RLI Dividend Announcement

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

Institutional Trading of RLI

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

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.