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

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

Several other equities research analysts have also issued reports on the stock. JMP Securities restated a market perform rating on shares of RLI in a report on Tuesday. Royal Bank of Canada raised their target price on shares of RLI from $148.00 to $155.00 and gave the stock a sector perform rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised their price target 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $163.25.

RLI Price Performance

RLI stock opened at $144.15 on Wednesday. The firm has a 50-day moving average price of $144.77 and a 200-day moving average price of $139.01. The firm has a market capitalization of $6.59 billion, a PE ratio of 19.91 and a beta of 0.37. The company has a current ratio of 0.39, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. RLI has a 12-month low of $123.04 and a 12-month high of $149.20.

RLI (NYSE:RLI) last released its 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. The firm had revenue of $444.80 million during the quarter, compared to analyst estimates of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.24%. The business’s revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the business earned $1.63 EPS. As a group, equities research analysts forecast that RLI will post 5.64 EPS for the current year.

RLI Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Commerce Bank increased its stake in RLI by 1.7% in the 4th quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock worth $588,000 after buying an additional 75 shares during the period. Resonant Capital Advisors LLC increased its position in RLI by 1.7% during the 3rd quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock valued at $642,000 after purchasing an additional 77 shares during the period. Treasurer of the State of North Carolina increased its position in RLI by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 17,660 shares of the insurance provider’s stock valued at $2,400,000 after purchasing an additional 90 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in RLI by 3.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 99 shares during the period. Finally, Brookstone Capital Management increased its position in RLI by 6.4% during the 4th quarter. Brookstone Capital Management now owns 1,906 shares of the insurance provider’s stock valued at $254,000 after purchasing an additional 114 shares during the period. 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.