In a report released today, Casey Alexander from Compass Point reiterated a Buy rating on RLI (RLI – Research Report), with a price target of $175.00. The company’s shares closed yesterday at $145.76.
Alexander covers the Financial sector, focusing on stocks such as RLI, MidCap Financial Investment Corporation, and Horizon Technology. According to TipRanks, Alexander has an average return of 12.1% and a 70.83% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for RLI with a $163.33 average price target.
Based on RLI’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $331.69 million and a net profit of $13.54 million. In comparison, last year the company earned a revenue of $859.49 million and had a net profit of $439.89 million
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RLI in relation to earlier this year.
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RLI (RLI) Company Description:
RLI Corp. operates as a holding company, which engages in the provision of insurance and underwriting services. It operates through the following segments: Casualty, Property and Surety. The Casualty segment offers healthcare and transportation insurance. The Property segment consists of commercial fire, earthquake, difference in conditions, marine, facultative and treaty reinsurance, including crop and select personal lines policies, including pet insurance and homeowners reinsurance services. The Surety segment engages in writing contract surety coverage, licenses and bonds for commercial, energy and industrial sectors. The company was founded by Gerald D. Stephens in 1965 and is headquartered in Peoria, IL.
