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

RLI (NYSE:RLI) had its price objective upped by investment analysts at Compass Point from $158.00 to $175.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Compass Point’s price target points to a potential upside of 19.45% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a 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 RLI from $148.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, RLI has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

RLI Trading Down 0.8 %

NYSE RLI opened at $146.51 on Wednesday. The company has a market cap of $6.70 billion, a PE ratio of 20.24 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. The stock has a 50 day moving average of $144.72 and a 200-day moving average of $138.97.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, beating 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 company 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 firm posted $1.63 EPS. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities research analysts anticipate that RLI will post 5.56 EPS for the current fiscal year.

Institutional Investors Weigh In On RLI

A number of hedge funds and other institutional investors have recently modified their holdings of RLI. AE Wealth Management LLC lifted its holdings in shares of RLI by 28.3% during the third quarter. AE Wealth Management LLC now owns 9,976 shares of the insurance provider’s stock worth $1,356,000 after buying an additional 2,199 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of RLI during the third quarter worth $734,000. Summit Global Investments acquired a new stake in shares of RLI during the third quarter worth $263,000. State of Alaska Department of Revenue increased its position in shares of RLI by 34.5% in the third quarter. State of Alaska Department of Revenue now owns 6,760 shares of the insurance provider’s stock worth $918,000 after purchasing an additional 1,733 shares during the period. Finally, Impact Partnership Wealth LLC bought a new position in shares of RLI in the third quarter worth $127,000. Institutional investors and hedge funds 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.