RLI (NYSE:RLI) Price Target Raised to $185.00

RLI (NYSE:RLI - Get Free Report) had its target price boosted by equities researchers at Compass Point from $170.00 to $185.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the insurance provider's stock. Compass Point's target price points to a potential upside of 19.12% from the company's previous close.

Several other research firms have also commented on RLI. Jefferies Financial Group upped their price objective on RLI from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. JMP Securities restated a "market perform" rating on shares of RLI in a research report on Tuesday, July 23rd. Wolfe Research began coverage on RLI in a research report on Wednesday, October 9th. They set an "outperform" rating and a $182.00 price objective on the stock. Oppenheimer assumed coverage on shares of RLI in a report on Wednesday, October 16th. They issued a "market perform" rating for the company. Finally, Keefe, Bruyette & Woods lifted their price target on shares of RLI from $169.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.40.

RLI Stock Performance

NYSE:RLI traded down $3.92 on Friday, hitting $155.30. The stock had a trading volume of 113,859 shares, compared to its average volume of 154,336. The business's 50-day simple moving average is $154.75 and its two-hundred day simple moving average is $147.21. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 17.07 and a beta of 0.41. RLI has a 52-week low of $125.77 and a 52-week high of $164.25. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.06.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data 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. RLI had a net margin of 23.77% and a return on equity of 19.03%. The company had revenue of $470.00 million for the quarter, compared to the consensus estimate of $491.54 million. During the same quarter last year, the firm posted $0.61 earnings per share. The firm's revenue was up 41.7% compared to the same quarter last year. As a group, research analysts predict that RLI will post 6.07 earnings per share for the current year.

Institutional Trading of RLI

A number of institutional investors and hedge funds have recently bought and sold shares of RLI. Dimensional Fund Advisors LP grew its position in shares of RLI by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 931,454 shares of the insurance provider's stock valued at $131,045,000 after purchasing an additional 24,125 shares in the last quarter. Maren Capital LLC increased its stake in RLI by 21.3% in the 1st quarter. Maren Capital LLC now owns 612,081 shares of the insurance provider's stock worth $90,876,000 after acquiring an additional 107,655 shares during the last quarter. Van Berkom & Associates Inc. raised its holdings in shares of RLI by 1.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 556,764 shares of the insurance provider's stock worth $78,331,000 after acquiring an additional 8,454 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of RLI by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 428,331 shares of the insurance provider's stock valued at $60,262,000 after acquiring an additional 1,979 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of RLI by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 265,365 shares of the insurance provider's stock valued at $39,400,000 after purchasing an additional 33,435 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.