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

RLI (NYSE:RLI) had its target price lifted by investment analysts at Compass Point from $158.00 to $175.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Compass Point’s price target suggests a potential upside of 19.45% from the company’s previous close.

A number of other research firms also recently commented on RLI. Keefe, Bruyette & Woods upped 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. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Tuesday. Finally, Royal Bank of Canada upped 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 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, RLI presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

RLI Trading Down 0.8 %

Shares of RLI opened at $146.51 on Wednesday. The stock has a fifty day moving average of $144.72 and a two-hundred day moving average of $138.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.39. The company has a market capitalization of $6.70 billion, a PE ratio of 20.24 and a beta of 0.37. RLI has a fifty-two week low of $123.04 and a fifty-two week high of $149.20.

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

Institutional Trading of RLI

A number of large investors have recently added to or reduced their stakes in RLI. Maren Capital LLC bought a new stake in RLI during the fourth quarter worth approximately $67,149,000. Norges Bank bought a new stake in RLI during the fourth quarter worth approximately $52,592,000. Charles Schwab Investment Management Inc. boosted its holdings in RLI by 39.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 400,532 shares of the insurance provider’s stock worth $54,428,000 after buying an additional 112,988 shares in the last quarter. Van Berkom & Associates Inc. boosted its holdings in RLI by 18.1% during the third 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 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 currently owned by 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.