RLI (NYSE:RLI) Downgraded to “Underperform” Rating by Jefferies Financial Group

RLI (NYSE:RLI) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to an “underperform” rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $61.00 target price on the insurance provider’s stock, down from their prior target price of $95.00. Jefferies Financial Group’s price objective would suggest a potential downside of 15.88% from the company’s previous close.

A number of other analysts also recently commented on the stock. Oppenheimer started coverage on shares of RLI in a research report on Wednesday, October 16th. They set a “market perform” rating on the stock. Compass Point increased their price target on RLI from $85.00 to $92.50 and gave the company a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada cut their price objective on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday. Keefe, Bruyette & Woods decreased their price objective on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.90.

RLI Stock Performance

Shares of RLI opened at $72.52 on Monday. The firm has a fifty day moving average of $82.71 and a 200-day moving average of $78.84. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 19.36 and a beta of 0.47. RLI has a 1 year low of $67.04 and a 1 year high of $91.14.

RLI (NYSE:RLI) last posted its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a return on equity of 16.38% and a net margin of 19.53%. Analysts predict that RLI will post 3.13 EPS for the current year.

Insiders Place Their Bets

In other RLI news, Director Michael J. Stone sold 400 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the completion of the sale, the director now directly owns 429,622 shares of the company’s stock, valued at $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RLI. UMB Bank n.a. increased its position in RLI by 620.0% during the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after buying an additional 155 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of RLI during the 3rd quarter valued at about $32,000. Versant Capital Management Inc raised its stake in shares of RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 71 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Finally, American National Bank & Trust lifted its stake in shares of RLI by 62.5% in the third quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock worth $62,000 after buying an additional 155 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

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.