RLI (NYSE:RLI) Price Target Lowered to $170.00 at Compass Point

RLI (NYSE:RLI) had its target price decreased by Compass Point from $175.00 to $170.00 in a report published on Wednesday, Benzinga reports. Compass Point currently has a buy rating on the insurance provider’s stock.

A number of other analysts have also issued reports on the company. Keefe, Bruyette & Woods reissued an outperform rating and issued a $168.00 price target on shares of RLI in a research note on Friday, June 21st. Royal Bank of Canada raised their price objective on RLI from $148.00 to $155.00 and gave the stock a sector perform rating in a report on Wednesday, April 24th. Jefferies Financial Group cut their price objective on RLI from $170.00 to $165.00 and set a buy rating on the stock in a report on Friday, June 14th. Finally, JMP Securities restated a market perform rating on shares of RLI in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RLI presently has a consensus rating of Moderate Buy and a consensus price target of $164.50.

RLI Trading Up 2.9 %

Shares of NYSE:RLI opened at $146.97 on Wednesday. The stock’s 50-day moving average price is $141.87 and its two-hundred day moving average price is $142.88. RLI has a 12-month low of $125.77 and a 12-month high of $149.20. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 20.30 and a beta of 0.41.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The firm had revenue of $416.44 million for the quarter, compared to analyst estimates of $561.60 million. During the same period last year, the company earned $1.16 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts forecast that RLI will post 5.96 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, May 31st were issued a dividend of $0.29 per share. This is an increase from RLI’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, May 31st. RLI’s dividend payout ratio (DPR) is presently 16.02%.

Institutional Investors Weigh In On RLI

Several hedge funds have recently modified their holdings of RLI. Brookstone Capital Management raised its holdings in shares of RLI by 6.4% during the 4th quarter. Brookstone Capital Management now owns 1,906 shares of the insurance provider’s stock valued at $254,000 after buying an additional 114 shares during the period. SG Americas Securities LLC raised its holdings in shares of RLI by 24.7% during the 4th quarter. SG Americas Securities LLC now owns 6,732 shares of the insurance provider’s stock valued at $896,000 after buying an additional 1,332 shares during the period. Pacer Advisors Inc. raised its holdings in shares of RLI by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,756 shares of the insurance provider’s stock valued at $1,166,000 after buying an additional 2,141 shares during the period. Nepsis Inc. acquired a new stake in RLI during the 4th quarter valued at approximately $9,424,000. Finally, Blue Trust Inc. acquired a new stake in RLI during the 4th quarter valued at approximately $25,000. 77.89% of the stock is currently owned by hedge funds and other 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.