Wall Street Zen Downgrades RLI (NYSE:RLI) to Sell

RLI (NYSE:RLI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Monday.

Other equities analysts have also issued reports about the company. Wells Fargo & Company lifted their price objective on RLI from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods increased their target price on RLI from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Zacks Research raised RLI from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings downgraded RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.50.

RLI Trading Down 2.6%

NYSE:RLI opened at $60.11 on Monday. The firm has a market capitalization of $5.53 billion, a PE ratio of 14.04 and a beta of 0.38. RLI has a 1 year low of $47.26 and a 1 year high of $70.26. The firm’s fifty day simple moving average is $55.28 and its 200 day simple moving average is $57.41.

RLI (NYSE:RLI) last released its earnings results on Wednesday, April 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.10. RLI had a net margin of 20.81% and a return on equity of 17.72%. The firm had revenue of $423.87 million during the quarter, compared to analyst estimates of $564.47 million. During the same quarter in the previous year, the business earned $0.92 EPS. The business’s revenue was up 4.0% on a year-over-year basis. As a group, analysts anticipate that RLI will post 2.75 EPS for the current fiscal year.

Insider Activity at RLI

In related news, Director David B. Duclos acquired 2,500 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was acquired at an average price of $51.99 per share, with a total value of $129,975.00. Following the completion of the transaction, the director owned 9,780 shares of the company’s stock, valued at approximately $508,462.20. This represents a 34.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Clark C. Kellogg bought 3,000 shares of RLI stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average price of $50.90 per share, with a total value of $152,700.00. Following the purchase, the director owned 4,502 shares of the company’s stock, valued at $229,151.80. This trade represents a 199.73% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 16,500 shares of company stock worth $858,955 over the last ninety days. Corporate insiders own 2.39% of the company’s stock.

Institutional Trading of RLI

A number of hedge funds have recently modified their holdings of RLI. Farther Finance Advisors LLC increased its position in shares of RLI by 94.4% during the fourth quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 201 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of RLI by 156.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 283 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in RLI by 72.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 618 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 259 shares during the period. Eagle Bay Advisors LLC bought a new position in RLI in the fourth quarter worth $43,000. Finally, IFP Advisors Inc boosted its stake in RLI by 85.9% during the fourth quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock worth $44,000 after buying an additional 316 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

About RLI

RLI Corporation (NYSE:RLI) is a specialty property and casualty insurance company focused on underwriting niche risks for businesses and individuals. Headquartered in Peoria, Illinois, the company operates through a network of independent agents and brokers, offering customized coverage solutions. RLI’s approach emphasizes disciplined underwriting, targeted product development and strong customer service to maintain profitability and long-term growth.

Founded in 1965 as Replacement Lens, Inc, RLI initially provided insurance for contact lens manufacturers before shifting its focus to specialty insurance in the 1980s.