RLI (NYSE:RLI) Price Target Increased to $185.00 by Analysts at Compass Point

RLI (NYSE:RLI) had its price target lifted by Compass Point from $170.00 to $185.00 in a report published on Friday, Benzinga reports. Compass Point currently has a buy rating on the insurance provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. Oppenheimer initiated coverage on shares of RLI in a research report on Wednesday, October 16th. They set a “market perform” rating for the company. Jefferies Financial Group upped their price objective on RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their target price on RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Wednesday. JMP Securities restated a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $177.40.

RLI Stock Down 2.5 %

Shares of NYSE RLI traded down $3.92 during mid-day trading on Friday, hitting $155.30. The company had a trading volume of 113,859 shares, compared to its average volume of 154,336. The company has a market capitalization of $7.10 billion, a PE ratio of 17.07 and a beta of 0.41. The business’s 50-day simple moving average is $154.75 and its 200 day simple moving average is $147.21. RLI has a 1-year low of $125.77 and a 1-year high of $164.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, October 21st. The insurance provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.33. The business had revenue of $470.00 million during the quarter, compared to the consensus estimate of $491.54 million. RLI had a return on equity of 19.03% and a net margin of 23.77%. The business’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. On average, analysts predict that RLI will post 6.07 earnings per share for the current year.

RLI Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.75%. RLI’s dividend payout ratio (DPR) is presently 12.75%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Chatham Capital Group Inc. boosted its holdings in shares of RLI by 11.2% in the first quarter. Chatham Capital Group Inc. now owns 12,957 shares of the insurance provider’s stock valued at $1,924,000 after acquiring an additional 1,300 shares during the period. Oak Thistle LLC purchased a new stake in RLI in the 1st quarter valued at $468,000. State of Michigan Retirement System boosted its stake in RLI by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 9,816 shares of the insurance provider’s stock worth $1,457,000 after purchasing an additional 200 shares during the period. Norden Group LLC purchased a new position in RLI during the 1st quarter worth $200,000. Finally, Van ECK Associates Corp increased its stake in RLI by 36.5% in the first quarter. Van ECK Associates Corp now owns 18,890 shares of the insurance provider’s stock valued at $2,805,000 after purchasing an additional 5,053 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

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.