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

RLI (NYSE:RLI) had its price objective raised by Compass Point from $158.00 to $175.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods boosted their price objective on RLI from $160.00 to $168.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. 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 research report on Wednesday. Finally, JMP Securities reissued a market perform rating on shares of RLI in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, RLI has an average rating of Moderate Buy and a consensus price target of $163.25.

RLI Trading Down 1.7 %

Shares of RLI stock opened at $144.15 on Wednesday. The stock has a fifty day simple moving average of $144.77 and a 200 day simple moving average of $139.03. RLI has a 12-month low of $123.04 and a 12-month high of $149.20. The company has a market capitalization of $6.59 billion, a P/E ratio of 19.91 and a beta of 0.37.

RLI (NYSE:RLI) last announced its quarterly earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. RLI had a return on equity of 17.24% and a net margin of 20.96%. The business had revenue of $444.80 million during the quarter, compared to the consensus estimate of $460.05 million. During the same quarter in the prior year, the company posted $1.63 earnings per share. RLI’s revenue was up 21.9% compared to the same quarter last year. On average, analysts predict that RLI will post 5.74 EPS for the current year.

RLI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.75%. RLI’s dividend payout ratio is presently 14.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position 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 during the last quarter. Van Berkom & Associates Inc. lifted its holdings in RLI by 18.1% during the 3rd quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock worth $71,570,000 after purchasing an additional 80,552 shares in the last quarter. Maren Capital LLC purchased a new stake in RLI during the 4th quarter worth about $67,149,000. Charles Schwab Investment Management Inc. lifted its holdings in RLI by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock worth $54,817,000 after purchasing an additional 11,255 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in RLI by 0.9% during the 3rd quarter. Northern Trust Corp now owns 395,547 shares of the insurance provider’s stock worth $53,751,000 after purchasing an additional 3,562 shares in the last quarter. Hedge funds and other 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.