Royal Bank of Canada Increases RLI (NYSE:RLI) Price Target to $165.00

RLI (NYSE:RLI) had its price objective increased by research analysts at Royal Bank of Canada from $162.00 to $165.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the insurance provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 3.66% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Compass Point cut their target price on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Wolfe Research began coverage on RLI in a report on Wednesday, October 9th. They set an “outperform” rating and a $182.00 price objective for the company. Jefferies Financial Group boosted their target price on RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, RLI currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.40.

RLI Stock Down 0.3 %

Shares of NYSE:RLI opened at $159.18 on Wednesday. The firm has a 50 day simple moving average of $154.43 and a 200 day simple moving average of $147.04. RLI has a 52 week low of $125.77 and a 52 week high of $164.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $7.28 billion, a PE ratio of 17.49 and a beta of 0.41.

RLI (NYSE:RLI) last released 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. The company had revenue of $470.00 million for the quarter, compared to analysts’ expectations of $491.54 million. RLI had a return on equity of 19.03% and a net margin of 23.77%. The business’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. As a group, research analysts expect that RLI will post 6.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its holdings in RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 155 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of RLI in the third quarter worth $32,000. American National Bank bought a new stake in shares of RLI during the 2nd quarter worth $35,000. EverSource Wealth Advisors LLC grew its stake in RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in RLI by 468.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 307 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 253 shares during the period. Institutional investors and hedge funds 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.