RLI (NYSE:RLI) PT Raised to $165.00 at Royal Bank of Canada

RLI (NYSE:RLI) had its target price increased by equities research analysts at Royal Bank of Canada from $162.00 to $165.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “sector perform” rating on the insurance provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 3.66% from the stock’s previous close.

A number of other analysts also recently commented on the company. Compass Point reduced their price objective on RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Oppenheimer began coverage on shares of RLI in a report on Wednesday, October 16th. They issued a “market perform” rating on the stock. Wolfe Research started coverage on shares of RLI in a research report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 target price on the stock. Finally, Keefe, Bruyette & Woods upped their target price 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, RLI currently has a consensus rating of “Moderate Buy” and an average price target of $174.40.

RLI Price Performance

NYSE:RLI opened at $159.18 on Wednesday. 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 has a one year low of $125.77 and a one year high of $164.25. The company has a fifty day moving average price of $154.43 and a 200 day moving average price of $147.04. The stock has a market cap of $7.28 billion, a P/E ratio of 17.49 and a beta of 0.41.

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

Institutional Investors Weigh In On RLI

Several large investors have recently made changes to their positions in RLI. Dimensional Fund Advisors LP lifted its holdings in RLI by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 931,454 shares of the insurance provider’s stock valued at $131,045,000 after purchasing an additional 24,125 shares during the last quarter. Maren Capital LLC boosted its holdings in shares of RLI by 21.3% in the 1st quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider’s stock worth $90,876,000 after acquiring an additional 107,655 shares in the last quarter. Van Berkom & Associates Inc. grew its position in RLI by 1.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 556,764 shares of the insurance provider’s stock worth $78,331,000 after acquiring an additional 8,454 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in RLI by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 428,331 shares of the insurance provider’s stock valued at $60,262,000 after purchasing an additional 1,979 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in RLI by 14.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider’s stock valued at $39,400,000 after purchasing an additional 33,435 shares during 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.