RLI (NYSE:RLI) Rating Lowered to Sell at StockNews.com

RLI (NYSE:RLI) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Other research analysts also recently issued reports about the company. Jefferies Financial Group downgraded RLI from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $95.00 to $61.00 in a report on Monday. Compass Point lowered their price objective on shares of RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a report on Monday. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Thursday. Oppenheimer began coverage on shares of RLI in a research report on Wednesday, October 16th. They issued a “market perform” rating for the company. Finally, Wolfe Research began coverage on shares of RLI in a research report on Wednesday, October 9th. They set an “outperform” rating and a $91.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, RLI presently has a consensus rating of “Hold” and a consensus price target of $82.80.

RLI Price Performance

Shares of RLI stock traded up $0.04 on Monday, hitting $72.52. The company had a trading volume of 693,792 shares, compared to its average volume of 610,321. The stock has a 50-day moving average of $82.71 and a 200-day moving average of $78.91. RLI has a twelve month low of $67.04 and a twelve month high of $91.14. The firm has a market capitalization of $6.65 billion, a P/E ratio of 19.36 and a beta of 0.47.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.38%. Equities analysts predict that RLI will post 3.13 EPS for the current year.

Insider Activity

In other RLI news, insider Jeffrey D. Fick purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average price of $72.13 per share, for a total transaction of $144,260.00. Following the purchase, the insider now owns 142,061 shares in the company, valued at approximately $10,246,859.93. The trade was a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Craig W. Kliethermes acquired 5,000 shares of RLI stock in a transaction on Friday, January 24th. The shares were bought at an average cost of $71.35 per share, with a total value of $356,750.00. Following the completion of the transaction, the chief executive officer now owns 139,190 shares of the company’s stock, valued at approximately $9,931,206.50. This trade represents a 3.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 9,200 shares of company stock valued at $660,774 in the last quarter. Company insiders own 5.09% of the company’s stock.

Hedge Funds Weigh In On RLI

Large investors have recently modified their holdings of the stock. UMB Bank n.a. grew its stake in RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after buying an additional 155 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of RLI during the third quarter worth approximately $32,000. Versant Capital Management Inc grew its position in shares of RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of RLI by 76.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Finally, American National Bank & Trust increased its stake in shares of RLI by 62.5% during the third quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 155 shares during the period. 77.89% of the stock is owned by institutional investors.

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.