RLI (NYSE:RLI) Price Target Increased to $175.00 by Analysts at Compass Point

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

RLI has been the subject of several other research reports. JMP Securities reaffirmed a market perform rating on shares of RLI in a report on Tuesday, April 23rd. Royal Bank of Canada lifted their price objective on RLI from $148.00 to $155.00 and gave the stock a sector perform rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price objective on RLI from $160.00 to $168.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $163.25.

RLI Trading Down 1.7 %

RLI stock opened at $144.15 on Wednesday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 19.91 and a beta of 0.37. The stock has a fifty day simple moving average of $144.77 and a two-hundred day simple moving average of $139.03. 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 Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The business had revenue of $444.80 million during the quarter, compared to analyst estimates of $460.05 million. RLI had a return on equity of 17.24% and a net margin of 20.96%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 EPS. On average, equities research analysts forecast that RLI will post 5.74 EPS for the current fiscal year.

RLI Dividend Announcement

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

Hedge Funds Weigh In On RLI

Several institutional investors and hedge funds have recently bought and sold shares of RLI. Blue Trust Inc. purchased a new position in RLI during the fourth quarter valued at $25,000. Gladius Capital Management LP lifted 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 purchased a new position in RLI during the fourth quarter valued at $41,000. Riverview Trust Co purchased a new position in shares of RLI in the first quarter valued at about $44,000. Finally, Quantbot Technologies LP purchased a new position in shares of RLI in the third quarter valued at about $60,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

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.