Compass Point Increases RLI (NYSE:RLI) Price Target to $185.00

RLI (NYSE:RLI) had its price target boosted by Compass Point from $170.00 to $185.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Compass Point’s price target points to a potential upside of 19.12% from the company’s previous close.

Other analysts also recently issued reports about the stock. Royal Bank of Canada upped their price objective on shares of RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday. Jefferies Financial Group upped their price objective on shares of RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Oppenheimer started coverage on shares of RLI in a report on Wednesday, October 16th. They set a “market perform” rating for the company. Wolfe Research started coverage on shares of RLI in a report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their price objective on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, RLI presently has a consensus rating of “Moderate Buy” and an average price target of $177.40.

RLI Stock Performance

RLI stock opened at $155.30 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 17.07 and a beta of 0.41. RLI has a 12 month low of $125.77 and a 12 month high of $164.25. The firm has a 50 day moving average of $154.75 and a two-hundred day moving average of $147.21.

RLI (NYSE:RLI) last posted its earnings results on Monday, October 21st. The insurance provider reported $1.31 EPS for the quarter, topping the consensus estimate of $0.98 by $0.33. The company had revenue of $470.00 million during the quarter, compared to the consensus estimate of $491.54 million. RLI had a net margin of 23.77% and a return on equity of 19.03%. The company’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, equities analysts anticipate that RLI will post 6.07 EPS for the current fiscal year.

Institutional Trading of RLI

A number of hedge funds have recently bought and sold shares of the stock. Chatham Capital Group Inc. raised its stake in shares of RLI by 11.2% in the 1st quarter. Chatham Capital Group Inc. now owns 12,957 shares of the insurance provider’s stock valued at $1,924,000 after buying an additional 1,300 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of RLI in the 1st quarter valued at $468,000. State of Michigan Retirement System raised its stake in shares of RLI by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 9,816 shares of the insurance provider’s stock valued at $1,457,000 after buying an additional 200 shares in the last quarter. Norden Group LLC acquired a new position in shares of RLI in the 1st quarter valued at $200,000. Finally, Van ECK Associates Corp raised its stake in shares of RLI by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 18,890 shares of the insurance provider’s stock valued at $2,805,000 after buying an additional 5,053 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

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.