RLI (NYSE:RLI) Price Target Raised to $175.00 at Compass Point

RLI (NYSE:RLI) had its price objective boosted by equities researchers at Compass Point from $158.00 to $175.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Compass Point’s price objective points to a potential upside of 18.93% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Tuesday. Royal Bank of Canada boosted their price objective on RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price objective on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

RLI Price Performance

RLI stock traded up $1.39 during mid-day trading on Wednesday, reaching $147.15. 129,877 shares of the company were exchanged, compared to its average volume of 175,773. The company has a fifty day simple moving average of $144.54 and a 200-day simple moving average of $138.85. RLI has a 12 month low of $123.04 and a 12 month high of $149.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market cap of $6.72 billion, a PE ratio of 22.20 and a beta of 0.37.

RLI (NYSE:RLI) last issued its quarterly earnings data on Tuesday, April 23rd. The insurance provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The business had revenue of $444.80 million for the quarter, compared to analyst estimates of $460.05 million. RLI had a return on equity of 17.77% and a net margin of 20.96%. RLI’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS. As a group, equities research analysts expect that RLI will post 5.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RLI

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. purchased a new stake in shares of RLI during the fourth quarter worth $25,000. Gladius Capital Management LP raised its position in shares of RLI by 129.7% in the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after buying an additional 153 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of RLI in the fourth quarter worth $41,000. Riverview Trust Co purchased a new stake in shares of RLI in the first quarter worth $44,000. Finally, Quantbot Technologies LP bought a new position in RLI in the third quarter valued at $60,000. Hedge funds and other institutional investors 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.