Royal Bank of Canada Boosts RLI (NYSE:RLI) Price Target to $155.00

RLI (NYSE:RLI) had its target price boosted by investment analysts at Royal Bank of Canada from $148.00 to $155.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the insurance provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 5.79% from the company’s previous close.

RLI has been the topic of a number of other research reports. Keefe, Bruyette & Woods increased their target price on RLI from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.25.

RLI Stock Performance

RLI stock opened at $146.51 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.39 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $144.72 and its two-hundred day simple moving average is $138.97. RLI has a twelve month low of $123.04 and a twelve month high of $149.20. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 20.24 and a beta of 0.37.

RLI (NYSE:RLI) last released its earnings results on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $460.05 million. During the same quarter last year, the firm posted $1.63 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. Analysts predict that RLI will post 5.64 earnings per share for the current year.

Hedge Funds Weigh In On RLI

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. bought a new stake in RLI during the fourth quarter valued at 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 valued at $37,000 after purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC bought a new stake in RLI during the fourth quarter valued at about $41,000. Riverview Trust Co bought a new stake in RLI during the first quarter valued at about $44,000. Finally, Quantbot Technologies LP bought a new stake in RLI during the third quarter valued at about $60,000. 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.