Royal Bank of Canada Raises RLI (NYSE:RLI) Price Target to $155.00

RLI (NYSE:RLI) had its price objective hoisted by stock analysts at Royal Bank of Canada from $148.00 to $155.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the insurance provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 4.99% from the company’s current price.

RLI has been the subject of several other reports. JMP Securities reissued a “market perform” rating on shares of RLI in a report on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of RLI from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $162.00.

RLI Price Performance

Shares of NYSE:RLI traded up $1.87 during midday trading on Wednesday, reaching $147.63. 78,509 shares of the company’s stock were exchanged, compared to its average volume of 175,184. The company’s 50 day simple moving average is $144.54 and its two-hundred day simple moving average is $138.85. The firm has a market capitalization of $6.75 billion, a PE ratio of 22.24 and a beta of 0.37. RLI has a 12 month low of $123.04 and a 12 month high of $149.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.38.

RLI (NYSE:RLI) last released its quarterly earnings data on Tuesday, April 23rd. The insurance provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The company had revenue of $444.80 million during the quarter, compared to the consensus estimate of $460.05 million. RLI had a net margin of 20.96% and a return on equity of 17.77%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $1.63 EPS. Equities research analysts expect that RLI will post 5.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RLI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in RLI by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after acquiring an additional 11,965 shares in the last quarter. Van Berkom & Associates Inc. increased its position in RLI by 18.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 526,679 shares of the insurance provider’s stock valued at $71,570,000 after acquiring an additional 80,552 shares in the last quarter. Maren Capital LLC acquired a new stake in RLI in the 4th quarter valued at about $67,149,000. Charles Schwab Investment Management Inc. increased its position in RLI by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 411,787 shares of the insurance provider’s stock valued at $54,817,000 after acquiring an additional 11,255 shares in the last quarter. Finally, Northern Trust Corp increased its position in RLI by 0.9% in the 3rd quarter. Northern Trust Corp now owns 395,547 shares of the insurance provider’s stock valued at $53,751,000 after acquiring an additional 3,562 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

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.