RLI (NYSE:RLI) Price Target Increased to $155.00 by Analysts at Royal Bank of Canada

RLI (NYSE:RLI) had its target price increased by Royal Bank of Canada from $148.00 to $155.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a sector perform rating on the insurance provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of RLI from $160.00 to $168.00 and gave the company an outperform rating in a report on Wednesday, April 10th. JMP Securities reissued a market perform rating on shares of RLI in a report on Tuesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, RLI currently has an average rating of Moderate Buy and a consensus target price of $163.25.

RLI Trading Up 1.3 %

RLI stock opened at $147.64 on Wednesday. The firm has a 50-day moving average of $144.65 and a 200-day moving average of $138.92. RLI has a one year low of $123.04 and a one year high of $149.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.39 and a quick ratio of 0.38. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 20.39 and a beta of 0.37.

RLI (NYSE:RLI) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. RLI had a net margin of 20.96% and a return on equity of 17.24%. The company had revenue of $444.80 million during the quarter, compared to the consensus estimate of $460.05 million. During the same period in the prior year, the business posted $1.63 EPS. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities analysts expect that RLI will post 5.56 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 0.73%. RLI’s dividend payout ratio is presently 14.92%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. bought a new position in shares of RLI during the fourth quarter worth approximately $25,000. Gladius Capital Management LP boosted its position in shares of RLI by 129.7% during the 3rd quarter. Gladius Capital Management LP now owns 271 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 153 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of RLI during the 4th quarter worth approximately $41,000. Riverview Trust Co acquired a new stake in shares of RLI during the 1st quarter worth approximately $44,000. Finally, Quantbot Technologies LP acquired a new stake in shares of RLI during the 3rd quarter worth approximately $60,000. 77.89% of the stock is owned by 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.