RLI (NYSE:RLI) Stock Rating Lowered by Compass Point

RLI (NYSE:RLI - Get Free Report) was downgraded by research analysts at Compass Point from a "strong-buy" rating to a "hold" rating in a research note issued on Friday,Zacks.com reports.

Several other research firms also recently issued reports on RLI. Keefe, Bruyette & Woods cut their price objective on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada dropped their target price on RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Jefferies Financial Group downgraded RLI from a "buy" rating to an "underperform" rating and dropped their target price for the company from $95.00 to $61.00 in a report on Monday, January 27th. StockNews.com upgraded RLI from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Finally, JMP Securities reiterated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, RLI currently has a consensus rating of "Hold" and an average price target of $78.60.

RLI Price Performance

RLI stock traded up $0.15 during midday trading on Friday, hitting $74.06. The company's stock had a trading volume of 490,729 shares, compared to its average volume of 361,193. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The stock's 50-day moving average price is $76.39 and its 200-day moving average price is $79.35. RLI has a 12 month low of $68.50 and a 12 month high of $91.15. The company has a market capitalization of $6.80 billion, a PE ratio of 19.78 and a beta of 0.49.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The firm had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. RLI had a return on equity of 16.63% and a net margin of 19.53%. The business's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 EPS. Analysts anticipate that RLI will post 3.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RLI news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total value of $214,484.96. Following the sale, the director now directly owns 23,312 shares in the company, valued at $1,745,835.68. This trade represents a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David B. Duclos bought 2,000 shares of the firm's stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of $72.50 per share, for a total transaction of $145,000.00. Following the completion of the transaction, the director now owns 7,215 shares in the company, valued at $523,087.50. This represents a 38.35 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.16% of the company's stock.

Institutional Trading of RLI

Several institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in RLI by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,752 shares of the insurance provider's stock valued at $77,759,000 after buying an additional 9,131 shares in the last quarter. New York Life Investment Management LLC bought a new stake in shares of RLI during the fourth quarter worth approximately $728,000. Raymond James Financial Inc. bought a new stake in RLI in the fourth quarter valued at approximately $17,854,000. Empowered Funds LLC bought a new stake in RLI in the fourth quarter valued at approximately $840,000. Finally, Callan Family Office LLC bought a new stake in RLI in the fourth quarter valued at approximately $1,199,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

About RLI

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.