RLI (NYSE:RLI) Downgraded to “Sell” Rating by StockNews.com

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

Several other brokerages have also recently commented on RLI. Oppenheimer started coverage on shares of RLI in a research report on Wednesday, October 16th. They issued a “market perform” rating for the company. Royal Bank of Canada lowered their price objective on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Thursday. Keefe, Bruyette & Woods lowered their price target on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Wolfe Research assumed coverage on RLI in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $91.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, RLI currently has an average rating of “Hold” and a consensus target price of $82.80.

RLI Price Performance

NYSE:RLI traded up $0.04 during trading hours on Monday, reaching $72.52. 693,792 shares of the company were exchanged, compared to its average volume of 610,321. The business has a 50 day moving average of $82.71 and a 200 day moving average of $78.91. RLI has a 1-year low of $67.04 and a 1-year high of $91.14. The company 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 released its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a return on equity of 16.38% and a net margin of 19.53%. As a group, equities research analysts anticipate that RLI will post 3.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael J. Stone sold 400 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total transaction of $33,910.00. Following the completion of the transaction, the director now owns 429,622 shares of the company’s stock, valued at approximately $36,421,205.05. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey D. Fick acquired 2,000 shares of RLI stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average cost of $72.13 per share, for a total transaction of $144,260.00. Following the purchase, the insider now owns 142,061 shares of the company’s stock, valued at $10,246,859.93. The trade was a 1.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 9,200 shares of company stock worth $660,774 in the last 90 days. Insiders own 5.09% of the company’s stock.

Institutional Investors Weigh In On RLI

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. boosted its holdings in RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 155 shares during the last quarter. V Square Quantitative Management LLC bought a new position in RLI during the 3rd quarter worth approximately $32,000. Versant Capital Management Inc lifted its position in shares of RLI by 53.8% in 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 period. Nomura Asset Management Co. Ltd. boosted its stake in shares of 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 purchasing an additional 100 shares during the last quarter. Finally, American National Bank & Trust increased its position 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 buying an additional 155 shares during the period. 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.