RLI Corp. (NYSE:RLI) has been given an average recommendation of “Hold” by the seven research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $41.67.
RLI has been the topic of a number of research reports. Zacks Investment Research downgraded shares of RLI Corp. from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. BidaskClub downgraded shares of RLI Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods set a $51.00 price target on shares of RLI Corp. and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $51.00 price target (up from $50.00) on shares of RLI Corp. in a research note on Friday, October 20th. Finally, FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a research note on Friday, July 21st.
RLI Corp. (NYSE:RLI) traded down $0.31 during midday trading on Thursday, hitting $58.95. 90,469 shares of the stock were exchanged, compared to its average volume of 149,977. RLI Corp. has a 1-year low of $50.34 and a 1-year high of $64.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $2,597.34, a P/E ratio of 35.73 and a beta of 1.27.
RLI Corp. (NYSE:RLI) last posted its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.44). RLI Corp. had a return on equity of 8.53% and a net margin of 9.97%. The company had revenue of $196.20 million during the quarter, compared to analyst estimates of $195.89 million. During the same period last year, the company posted $0.37 earnings per share. The company’s revenue was down 4.9% compared to the same quarter last year. analysts anticipate that RLI Corp. will post 1.55 EPS for the current fiscal year.
In other RLI Corp. news, Director Michael J. Stone sold 991 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $57.40, for a total transaction of $56,883.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Angelina bought 1,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average cost of $54.41 per share, for a total transaction of $54,410.00. The disclosure for this purchase can be found here. Corporate insiders own 6.09% of the company’s stock.
A number of institutional investors have recently bought and sold shares of RLI. Flinton Capital Management LLC increased its position in RLI Corp. by 60.3% during the second quarter. Flinton Capital Management LLC now owns 2,000 shares of the insurance provider’s stock worth $109,000 after buying an additional 752 shares during the last quarter. Riverhead Capital Management LLC grew its position in shares of RLI Corp. by 64.0% in the second quarter. Riverhead Capital Management LLC now owns 2,296 shares of the insurance provider’s stock valued at $125,000 after purchasing an additional 896 shares during the last quarter. Bank of Montreal Can grew its position in shares of RLI Corp. by 5.8% in the second quarter. Bank of Montreal Can now owns 2,549 shares of the insurance provider’s stock valued at $138,000 after purchasing an additional 139 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of RLI Corp. in the first quarter valued at about $203,000. Finally, Shelton Capital Management acquired a new stake in shares of RLI Corp. in the second quarter valued at about $208,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.
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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