RLI (NYSE:RLI) Price Target Increased to $185.00 by Analysts at Compass Point

RLI (NYSE:RLI) had its price objective increased by Compass Point from $170.00 to $185.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other brokerages have also recently commented on RLI. Jefferies Financial Group upped their target price on shares of RLI from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Oppenheimer started coverage on shares of RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Tuesday, July 23rd. Royal Bank of Canada increased their price target on shares of RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of RLI from $169.00 to $175.00 and gave the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RLI currently has an average rating of “Moderate Buy” and a consensus target price of $177.40.

RLI Stock Performance

Shares of NYSE RLI opened at $156.56 on Friday. The company has a market cap of $7.17 billion, a PE ratio of 17.20 and a beta of 0.41. RLI has a 52-week low of $125.77 and a 52-week high of $164.25. The firm’s 50 day moving average price is $154.87 and its 200-day moving average price is $147.42.

RLI (NYSE:RLI) last posted its earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $491.54 million. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. On average, analysts forecast that RLI will post 5.93 earnings per share for the current fiscal year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 0.74%. RLI’s dividend payout ratio (DPR) is currently 12.75%.

Hedge Funds Weigh In On RLI

Institutional investors have recently made changes to their positions in the company. UMB Bank n.a. increased its holdings in shares of RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 155 shares during the period. V Square Quantitative Management LLC acquired a new position in RLI in the 3rd quarter worth approximately $32,000. American National Bank purchased a new position in shares of RLI during the second quarter worth $35,000. EverSource Wealth Advisors LLC raised its stake in shares of RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares during the last quarter. Finally, American National Bank & Trust raised its position in RLI by 62.5% during the third quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

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.