RLI (NYSE:RLI) PT Raised to $165.00 at Royal Bank of Canada

RLI (NYSE:RLI) had its price objective hoisted by Royal Bank of Canada from $162.00 to $165.00 in a report issued on Wednesday, Benzinga reports. They currently have a sector perform rating on the insurance provider’s stock.

Other equities research analysts have also issued reports about the company. Oppenheimer began coverage on RLI in a research report on Wednesday, October 16th. They set a “market perform” rating on the stock. JMP Securities restated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Compass Point decreased their price target on shares of RLI from $175.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods boosted their price objective on shares of RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group raised their target price on shares of RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.40.

RLI Stock Down 2.5 %

Shares of NYSE RLI opened at $155.30 on Wednesday. The firm has a fifty day simple moving average of $154.75 and a two-hundred day simple moving average of $147.21. The firm has a market capitalization of $7.10 billion, a PE ratio of 17.07 and a beta of 0.41. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. RLI has a 12 month low of $125.77 and a 12 month high of $164.25.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.33. The company had revenue of $470.00 million during the quarter, compared to the consensus estimate of $491.54 million. RLI had a net margin of 23.77% and a return on equity of 19.03%. RLI’s revenue was up 41.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. Equities analysts expect that RLI will post 6.07 earnings per share for the current year.

RLI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 0.75%. RLI’s dividend payout ratio is currently 12.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Klein Pavlis & Peasley Financial Inc. increased its position in shares of RLI by 1.2% during the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock valued at $892,000 after acquiring an additional 68 shares in the last quarter. Motiv8 Investments LLC bought a new stake in shares of RLI in the 3rd quarter worth $217,000. State of Alaska Department of Revenue raised its stake in shares of 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 last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of RLI by 0.9% during the third 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 in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in shares of RLI during the third quarter valued at $70,000. Institutional investors 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.