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

RLI (NYSE:RLI) had its price objective boosted by research analysts at Compass Point from $170.00 to $185.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Compass Point’s target price suggests a potential upside of 19.19% from the company’s current price.

Several other equities research analysts have also recently issued reports on RLI. Jefferies Financial Group raised their price objective on RLI from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Wolfe Research assumed coverage on RLI in a report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 target price on the stock. Royal Bank of Canada upped their price target on RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Oppenheimer assumed coverage on RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, RLI presently has an average rating of “Moderate Buy” and an average price target of $177.40.

RLI Price Performance

NYSE:RLI traded down $4.00 during trading hours on Friday, reaching $155.22. 43,874 shares of the company traded hands, compared to its average volume of 153,998. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.39 and a quick ratio of 0.39. The firm’s 50-day moving average is $154.43 and its 200-day moving average is $147.04. The stock has a market cap of $7.10 billion, a P/E ratio of 17.09 and a beta of 0.41. RLI has a 1-year low of $125.77 and a 1-year high of $164.25.

RLI (NYSE:RLI) last announced its earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share 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 firm had revenue of $470.00 million during the quarter, compared to the consensus estimate of $491.54 million. During the same quarter in the previous year, the company posted $0.61 EPS. The firm’s revenue for the quarter was up 41.7% on a year-over-year basis. Equities research analysts expect that RLI will post 6.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RLI

Several large investors have recently added to or reduced their stakes in RLI. Klein Pavlis & Peasley Financial Inc. boosted its position in RLI by 1.2% during the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock worth $892,000 after acquiring an additional 68 shares during the period. Motiv8 Investments LLC bought a new stake in RLI during the third quarter worth approximately $217,000. State of Alaska Department of Revenue lifted its position in RLI by 7.8% in the third quarter. State of Alaska Department of Revenue now owns 6,820 shares of the insurance provider’s stock worth $1,056,000 after purchasing an additional 495 shares during the period. Louisiana State Employees Retirement System increased its position in shares of RLI by 0.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 11,500 shares of the insurance provider’s stock valued at $1,782,000 after purchasing an additional 100 shares during the period. Finally, Values First Advisors Inc. bought a new stake in shares of RLI in the 3rd quarter worth $70,000. 77.89% of the stock is owned by institutional investors and hedge funds.

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.