RLI (NYSE:RLI) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of RLI (NYSE:RLI) from a hold rating to a sell rating in a research report report published on Monday.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of RLI from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Weiss Ratings lowered shares of RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Zacks Research raised RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Wells Fargo & Company increased their price objective on RLI from $55.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, RLI presently has an average rating of “Hold” and a consensus price target of $60.50.

RLI Trading Up 0.3%

Shares of RLI stock opened at $61.73 on Monday. RLI has a 52 week low of $47.26 and a 52 week high of $70.36. The stock has a market cap of $5.68 billion, a PE ratio of 14.42 and a beta of 0.38. The company’s 50-day moving average price is $55.05 and its two-hundred day moving average price is $57.44.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.10. The company had revenue of $423.87 million during the quarter, compared to analyst estimates of $564.47 million. RLI had a net margin of 20.81% and a return on equity of 17.72%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. On average, equities analysts predict that RLI will post 2.75 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, May 29th. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. This is an increase from RLI’s previous quarterly dividend of $0.16. RLI’s dividend payout ratio is presently 16.82%.

Insider Activity at RLI

In related news, CEO Craig W. Kliethermes purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average cost of $52.00 per share, with a total value of $260,000.00. Following the completion of the purchase, the chief executive officer owned 148,990 shares of the company’s stock, valued at $7,747,480. The trade was a 3.47% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clark C. Kellogg acquired 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average price of $50.90 per share, with a total value of $152,700.00. Following the completion of the acquisition, the director owned 4,502 shares of the company’s stock, valued at $229,151.80. This represents a 199.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 16,500 shares of company stock valued at $858,955. 2.39% of the stock is owned by insiders.

Institutional Investors Weigh In On RLI

Several large investors have recently made changes to their positions in RLI. Chatham Capital Group Inc. increased its position in shares of RLI by 0.7% during the 4th quarter. Chatham Capital Group Inc. now owns 26,460 shares of the insurance provider’s stock worth $1,693,000 after purchasing an additional 180 shares in the last quarter. Covestor Ltd boosted its position in RLI by 13.0% in the fourth quarter. Covestor Ltd now owns 1,590 shares of the insurance provider’s stock valued at $102,000 after buying an additional 183 shares in the last quarter. Versant Capital Management Inc grew its stake in RLI by 28.5% during the second quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider’s stock worth $49,000 after buying an additional 185 shares during the last quarter. Allworth Financial LP grew its stake in RLI by 5.3% during the third quarter. Allworth Financial LP now owns 3,760 shares of the insurance provider’s stock worth $245,000 after buying an additional 189 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of RLI by 94.4% during the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after buying an additional 201 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

RLI Company Profile

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.