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

RLI (NYSE:RLI) had its price objective increased by stock analysts at Royal Bank of Canada from $148.00 to $155.00 in a research note issued to 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 objective suggests a potential upside of 4.99% from the stock’s previous close.

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

RLI Price Performance

Shares of NYSE:RLI traded up $1.87 on Wednesday, hitting $147.63. The stock had a trading volume of 78,509 shares, compared to its average volume of 175,184. RLI has a twelve month low of $123.04 and a twelve 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. The firm’s 50 day moving average price is $144.54 and its 200-day moving average price is $138.85. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 22.24 and a beta of 0.37.

RLI (NYSE:RLI) last issued its earnings results on Tuesday, April 23rd. The insurance provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. The company had revenue of $444.80 million for 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 quarter in the previous year, the company earned $1.63 EPS. On average, equities research analysts predict that RLI will post 5.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RLI. QRG Capital Management Inc. purchased a new stake in shares of RLI in the 3rd quarter valued at about $661,000. Envestnet Asset Management Inc. grew its position in shares of RLI by 28.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 76,124 shares of the insurance provider’s stock worth $10,344,000 after buying an additional 16,725 shares during the last quarter. Resonant Capital Advisors LLC boosted its position in shares of RLI by 1.7% during the third quarter. Resonant Capital Advisors LLC now owns 4,727 shares of the insurance provider’s stock valued at $642,000 after purchasing an additional 77 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of RLI by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 1,082,470 shares of the insurance provider’s stock valued at $147,097,000 after purchasing an additional 11,965 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in RLI during the third quarter valued at $840,000. 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.