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

RLI (NYSE:RLI) had its price objective hoisted by research analysts at Compass Point from $158.00 to $175.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Compass Point’s price objective indicates a potential upside of 18.93% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Tuesday. Finally, Royal Bank of Canada raised their price target on shares of RLI from $148.00 to $155.00 and gave the stock a “sector perform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

RLI Trading Up 1.0 %

RLI stock traded up $1.39 during mid-day trading on Wednesday, reaching $147.15. The company had a trading volume of 129,877 shares, compared to its average volume of 175,773. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market capitalization of $6.72 billion, a PE ratio of 22.20 and a beta of 0.37. The firm has a 50 day moving average of $144.54 and a 200 day moving average of $138.85. RLI has a 12 month low of $123.04 and a 12 month high of $149.20.

RLI (NYSE:RLI) last posted its earnings results on Tuesday, April 23rd. The insurance provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. RLI had a net margin of 20.96% and a return on equity of 17.77%. The company had revenue of $444.80 million during the quarter, compared to analysts’ expectations of $460.05 million. During the same quarter in the prior year, the company posted $1.63 earnings per share. RLI’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities analysts predict that RLI will post 5.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RLI

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. acquired a new position in RLI during the fourth quarter worth about $25,000. Gladius Capital Management LP boosted its position in RLI by 129.7% during the third quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 153 shares during the last quarter. Riverview Trust Co acquired a new position in RLI during the first quarter worth about $44,000. GAMMA Investing LLC acquired a new position in RLI in the 4th quarter valued at about $41,000. Finally, Quantbot Technologies LP acquired a new position in RLI in the 3rd quarter valued at about $60,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

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.