RLI Corp. (RLI) Stock Rating Lowered by BidaskClub

RLI Corp. (NYSE:RLI) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other research firms have also recently weighed in on RLI. FBR & Co restated a “hold” rating on shares of RLI Corp. in a report on Thursday, April 20th. Zacks Investment Research upgraded shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Monday, July 24th. ValuEngine upgraded shares of RLI Corp. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods set a $51.00 target price on shares of RLI Corp. and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Finally, Royal Bank Of Canada reiterated a “sell” rating and issued a $50.00 target price on shares of RLI Corp. in a research note on Monday, May 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $47.00.

RLI Corp. (RLI) opened at 54.93 on Friday. The stock’s 50 day moving average is $55.71 and its 200 day moving average is $57.14. The stock has a market capitalization of $2.42 billion, a PE ratio of 24.31 and a beta of 1.21. RLI Corp. has a 12-month low of $52.51 and a 12-month high of $71.46.

RLI Corp. (NYSE:RLI) last released its quarterly earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The business had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $198.09 million. During the same period last year, the business earned $0.61 EPS. The company’s revenue was up .1% compared to the same quarter last year. Equities analysts anticipate that RLI Corp. will post $2.01 EPS for the current fiscal year.

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In related news, Director Robert P. Restrepo, Jr. bought 1,200 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was bought at an average cost of $57.58 per share, for a total transaction of $69,096.00. Following the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at $403,060. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Stone sold 3,000 shares of RLI Corp. stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $57.95, for a total transaction of $173,850.00. The disclosure for this sale can be found here. Insiders sold a total of 8,947 shares of company stock valued at $501,958 over the last quarter. 6.09% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC boosted its stake in RLI Corp. by 1.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,716 shares of the insurance provider’s stock worth $103,000 after buying an additional 22 shares during the period. Riverhead Capital Management LLC boosted its stake in RLI Corp. by 64.0% in the second quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock worth $125,000 after buying an additional 896 shares during the period. Glen Harbor Capital Management LLC boosted its stake in RLI Corp. by 1.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,184 shares of the insurance provider’s stock worth $131,000 after buying an additional 28 shares during the period. Bank of Montreal Can boosted its stake in RLI Corp. by 5.8% in the second quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock worth $138,000 after buying an additional 139 shares during the period. Finally, Elkfork Partners LLC boosted its stake in RLI Corp. by 1.3% in the first quarter. Elkfork Partners LLC now owns 2,652 shares of the insurance provider’s stock worth $159,000 after buying an additional 34 shares during the period. Institutional investors own 81.10% of the company’s stock.

RLI Corp. Company Profile

RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.

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