RLI (NYSE:RLI) Upgraded to “Hold” at StockNews.com

RLI (NYSE:RLI) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

RLI has been the topic of several other reports. Keefe, Bruyette & Woods cut their price target on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Jefferies Financial Group downgraded RLI from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $95.00 to $61.00 in a research note on Monday, January 27th. Royal Bank of Canada decreased their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Compass Point lowered their price target on RLI from $185.00 to $82.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, RLI currently has an average rating of “Hold” and an average price target of $82.80.

RLI Stock Down 0.1 %

Shares of NYSE RLI traded down $0.09 during mid-day trading on Friday, reaching $74.59. 434,658 shares of the company were exchanged, compared to its average volume of 556,908. The firm has a 50-day moving average of $78.02 and a 200 day moving average of $79.19. RLI has a 1 year low of $67.53 and a 1 year high of $91.14. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 19.92 and a beta of 0.46.

RLI (NYSE:RLI) last released its quarterly earnings results 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 16.63%. On average, research analysts expect that RLI will post 3.08 earnings per share for the current year.

Insider Activity at RLI

In other RLI news, Director David B. Duclos purchased 2,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of $72.50 per share, for a total transaction of $145,000.00. Following the completion of the transaction, the director now owns 7,215 shares of the company’s stock, valued at $523,087.50. This trade represents a 38.35 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael J. Stone sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the completion of the sale, the director now directly owns 429,622 shares in the company, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 11,200 shares of company stock worth $805,774 over the last three months. Company insiders own 5.09% of the company’s stock.

Institutional Investors Weigh In On RLI

A number of institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in RLI during the fourth quarter valued at $31,000. Versant Capital Management Inc raised its position in shares of RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in RLI in the 4th quarter worth about $56,000. Finally, Values First Advisors Inc. purchased a new stake in RLI during the 3rd quarter worth approximately $70,000. Institutional investors and hedge funds 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.