RLI (NYSE:RLI) PT Raised to $155.00

RLI (NYSE:RLI) had its price target raised by equities researchers at Royal Bank of Canada from $148.00 to $155.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the insurance provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 5.79% from the company’s current price.

Other research analysts also recently issued reports about the stock. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday. Keefe, Bruyette & Woods lifted their target price on shares of RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, RLI presently has an average rating of “Moderate Buy” and a consensus price target of $163.25.

RLI Trading Down 0.8 %

RLI stock opened at $146.51 on Wednesday. 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 one year low of $123.04 and a one year high of $149.20. The company’s 50 day moving average price is $144.72 and its two-hundred day moving average price is $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.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.63 by $0.26. RLI had a net margin of 20.96% and a return on equity of 17.24%. The firm had revenue of $444.80 million for the quarter, compared to the consensus estimate of $460.05 million. During the same period last year, the firm posted $1.63 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. As a group, analysts predict that RLI will post 5.64 earnings per share for the current fiscal year.

Institutional Trading of RLI

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of RLI by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after buying an additional 11,965 shares in the last quarter. Van Berkom & Associates Inc. boosted its holdings in shares of RLI by 18.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock valued at $71,570,000 after buying an additional 80,552 shares in the last quarter. Maren Capital LLC bought a new stake in shares of RLI during the 4th quarter valued at $67,149,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of RLI by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock valued at $54,817,000 after buying an additional 11,255 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of RLI by 0.9% during the 3rd quarter. Northern Trust Corp now owns 395,547 shares of the insurance provider’s stock valued at $53,751,000 after buying an additional 3,562 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

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.