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

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

RLI has been the subject of several other research reports. Keefe, Bruyette & Woods raised their target price on RLI from $160.00 to $168.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. JMP Securities reiterated a market perform rating on shares of RLI in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, RLI currently has a consensus rating of Moderate Buy and an average price target of $163.25.

RLI Stock Up 1.3 %

Shares of RLI stock opened at $147.64 on Wednesday. RLI has a 1 year low of $123.04 and a 1 year high of $149.20. The stock has a market cap of $6.75 billion, a PE ratio of 20.39 and a beta of 0.37. The business’s fifty day moving average is $144.65 and its 200-day moving average is $138.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.39.

RLI (NYSE:RLI) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $1.89 earnings per share for the quarter, topping the consensus estimate 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 revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. Equities analysts expect that RLI will post 5.56 earnings per share for the current fiscal year.

RLI Announces Dividend

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

Hedge Funds Weigh In On RLI

Several institutional investors have recently bought and sold shares of RLI. QRG Capital Management Inc. bought a new position in shares of RLI in the third quarter worth about $661,000. Envestnet Asset Management Inc. increased its stake in shares of RLI by 28.2% in the third quarter. Envestnet Asset Management Inc. now owns 76,124 shares of the insurance provider’s stock worth $10,344,000 after purchasing an additional 16,725 shares during the period. Resonant Capital Advisors LLC increased its stake in shares of RLI by 1.7% in the third quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock worth $642,000 after purchasing an additional 77 shares during the period. JPMorgan Chase & Co. increased its stake in shares of RLI by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock worth $147,097,000 after purchasing an additional 11,965 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of RLI in the third quarter worth about $840,000. 77.89% of the stock is currently owned by institutional investors.

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.