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

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

Other research analysts have also issued reports about the stock. Oppenheimer assumed coverage on shares of RLI in a report on Wednesday, October 16th. They issued a “market perform” rating for the company. Compass Point dropped their price objective on shares of RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research note on Monday. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Royal Bank of Canada decreased their price objective on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods dropped their target price on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $82.80.

RLI Stock Performance

Shares of NYSE:RLI opened at $72.92 on Monday. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 19.47 and a beta of 0.47. The firm has a fifty day moving average price of $82.41 and a 200 day moving average price of $78.93. RLI has a fifty-two week low of $67.04 and a fifty-two week high of $91.14.

RLI (NYSE:RLI) last released 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%. As a group, research analysts predict that RLI will post 3.13 earnings per share for the current year.

Insider Buying and Selling at RLI

In other news, CEO Craig W. Kliethermes purchased 5,000 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were acquired at an average price of $71.35 per share, with a total value of $356,750.00. Following the transaction, the chief executive officer now owns 139,190 shares of the company’s stock, valued at $9,931,206.50. This represents a 3.73 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Stone sold 400 shares of RLI stock in a transaction dated 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 owns 429,622 shares of the company’s stock, valued at $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 purchased a total of 9,200 shares of company stock valued at $660,774 in the last three months. Company insiders own 4.91% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. UMB Bank n.a. grew 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 worth $28,000 after purchasing an additional 155 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of RLI during the fourth quarter worth about $31,000. V Square Quantitative Management LLC purchased a new position in shares of RLI in the third quarter worth $32,000. Versant Capital Management Inc grew its stake in RLI by 53.8% during the 4th 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. Finally, Nomura Asset Management Co. Ltd. increased its holdings in RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Company Profile

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.