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

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

Other analysts also recently issued reports about the stock. Jefferies Financial Group reduced their price target on shares of RLI from $170.00 to $165.00 and set a buy rating on the stock in a report on Friday, June 14th. JMP Securities reiterated a market perform rating on shares of RLI in a research report on Tuesday. Keefe, Bruyette & Woods reiterated an outperform rating and set a $168.00 price objective on shares of RLI in a research report on Friday, June 21st. Finally, Royal Bank of Canada increased their price target on shares of RLI from $148.00 to $155.00 and gave the company a sector perform rating in a report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, RLI has an average rating of Moderate Buy and a consensus target price of $164.50.

RLI Stock Up 3.0 %

Shares of RLI stock opened at $147.04 on Wednesday. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 20.31 and a beta of 0.41. The stock’s 50-day simple moving average is $141.87 and its 200-day simple moving average is $142.82. RLI has a 52 week low of $125.77 and a 52 week high of $149.20.

RLI (NYSE:RLI) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.72 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 company had revenue of $416.44 million for the quarter, compared to analysts’ expectations of $561.60 million. During the same period in the previous year, the firm earned $1.16 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that RLI will post 5.96 earnings per share for the current year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, May 31st were paid a dividend of $0.29 per share. This is a boost from RLI’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, May 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.79%. RLI’s dividend payout ratio is currently 16.02%.

Institutional Trading of RLI

Several institutional investors and hedge funds have recently made changes to their positions in the business. Commerce Bank grew its stake in RLI by 1.7% in the 4th quarter. Commerce Bank now owns 4,419 shares of the insurance provider’s stock worth $588,000 after acquiring an additional 75 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in RLI by 3.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,259 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 99 shares in the last quarter. Brookstone Capital Management lifted its stake in RLI by 6.4% in the fourth quarter. Brookstone Capital Management now owns 1,906 shares of the insurance provider’s stock worth $254,000 after acquiring an additional 114 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of RLI by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 25,815 shares of the insurance provider’s stock worth $3,832,000 after purchasing an additional 128 shares during the period. Finally, Argonautica Private Wealth Management Inc. boosted its stake in shares of RLI by 5.1% during the second quarter. Argonautica Private Wealth Management Inc. now owns 2,762 shares of the insurance provider’s stock valued at $389,000 after purchasing an additional 134 shares in the last quarter. 77.89% of the stock is currently 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.