RLI (NYSE:RLI) Upgraded at StockNews.com

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

Other research analysts also recently issued research 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 research note on Monday, January 27th. Royal Bank of Canada lowered their price target on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. JMP Securities reissued a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their target price on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Compass Point lowered their price objective on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $82.80.

RLI Stock Performance

NYSE RLI traded down $0.09 during trading hours on Friday, hitting $74.59. 434,658 shares of the company’s stock traded hands, compared to its average volume of 556,908. RLI has a 52 week low of $67.53 and a 52 week high of $91.14. The firm has a market capitalization of $6.84 billion, a P/E ratio of 19.92 and a beta of 0.46. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $78.02 and its two-hundred day moving average price is $79.19.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. Equities research analysts predict that RLI will post 3.08 EPS for the current year.

Insider Buying and Selling

In related news, CEO Craig W. Kliethermes acquired 5,000 shares of the stock in a transaction dated Friday, January 24th. The stock was acquired at an average cost of $71.35 per share, with a total value of $356,750.00. Following the purchase, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael E. Angelina purchased 2,200 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were bought at an average price of $72.62 per share, for a total transaction of $159,764.00. Following the acquisition, the director now directly owns 23,514 shares in the company, valued at $1,707,586.68. This trade represents a 10.32 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 11,200 shares of company stock worth $805,774. Insiders own 5.09% of the company’s stock.

Institutional Investors Weigh In On RLI

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in RLI in the fourth quarter worth $80,476,000. Wellington Management Group LLP grew its holdings in shares of RLI by 580.4% in the fourth quarter. Wellington Management Group LLP now owns 415,247 shares of the insurance provider’s stock worth $68,445,000 after purchasing an additional 354,219 shares during the last quarter. Nepsis Inc. increased its stake in RLI by 138.8% in the 4th quarter. Nepsis Inc. now owns 296,526 shares of the insurance provider’s stock worth $48,876,000 after buying an additional 172,370 shares during the period. Geode Capital Management LLC lifted its holdings in RLI by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider’s stock valued at $168,907,000 after buying an additional 116,088 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in RLI in the 4th quarter valued at about $17,854,000. 77.89% of the stock is owned by institutional investors.

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.