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

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

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $168.00 target price on shares of RLI in a research note on Friday, June 21st. Royal Bank of Canada lifted their target price on shares of RLI from $148.00 to $155.00 and gave the stock a sector perform rating in a research note on Wednesday, April 24th. JMP Securities reaffirmed a market perform rating on shares of RLI in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group lowered their target price on shares of RLI from $170.00 to $165.00 and set a buy rating on the stock in a research note on Friday, June 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, RLI presently has an average rating of Moderate Buy and an average price target of $164.50.

RLI Stock Performance

RLI stock opened at $146.97 on Wednesday. The company’s fifty day moving average price is $141.87 and its 200 day moving average price is $142.88. RLI has a 1 year low of $125.77 and a 1 year high of $149.20. The stock has a market capitalization of $6.72 billion, a P/E ratio of 20.30 and a beta of 0.41.

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

RLI Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors 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 worth $254,000 after acquiring an additional 114 shares during the period. SG Americas Securities LLC raised its holdings in RLI by 24.7% in 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 RLI by 32.4% in 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. purchased a new stake in RLI in the 4th quarter valued at about $9,424,000. Finally, Blue Trust Inc. purchased a new stake in RLI in the 4th quarter valued at about $25,000. Hedge funds and other institutional investors 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.