FBR Capital Maintains a 'Market Perform' on RLI Corp (RLI); 1Q11 Earnings Beat from Reserve Releases Comes As No Surprise
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Price: $63.77 -0.34%
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains a 'Market Perform' on RLI Corp. (NYSE: RLI), PT $55.
FBR analyst says, "Not content with the wait for the winds of a hardening insurance market, the company is proactively seeking growth opportunities, such as the expansion into crop reinsurance and recent acquisition of Contractors Bonding Insurance Company, which is expected to close by the end of the month. With opportunistic top-line growth, highly redundant reserves, generous capital management, and disciplined underwriting, there is little not to like with RLI, except for valuation, which stands at 1.5x book value. We would be inclined to recommend the stock if valuation were to pull back or the hard market were to arrive sooner."
For more ratings news on RLI Corp. click here and for the rating history of RLI Corp. click here.
Shares of RLI Corp. closed at $58.43 yesterday.
FBR analyst says, "Not content with the wait for the winds of a hardening insurance market, the company is proactively seeking growth opportunities, such as the expansion into crop reinsurance and recent acquisition of Contractors Bonding Insurance Company, which is expected to close by the end of the month. With opportunistic top-line growth, highly redundant reserves, generous capital management, and disciplined underwriting, there is little not to like with RLI, except for valuation, which stands at 1.5x book value. We would be inclined to recommend the stock if valuation were to pull back or the hard market were to arrive sooner."
For more ratings news on RLI Corp. click here and for the rating history of RLI Corp. click here.
Shares of RLI Corp. closed at $58.43 yesterday.
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