RLI (NYSE:RLI) Stock Rating Upgraded by Wall Street Zen

RLI (NYSE:RLI) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other equities research analysts have also recently issued reports on RLI. Wells Fargo & Company upped their price target on shares of RLI from $55.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday. Keefe, Bruyette & Woods lifted their price objective on RLI from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. Zacks Research raised RLI from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings downgraded RLI from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.50.

RLI Stock Performance

Shares of RLI stock traded up $0.56 on Friday, reaching $60.70. The stock had a trading volume of 481,814 shares, compared to its average volume of 911,504. The business’s 50-day moving average price is $53.75 and its two-hundred day moving average price is $57.69. RLI has a fifty-two week low of $47.26 and a fifty-two week high of $71.17. The stock has a market cap of $5.58 billion, a P/E ratio of 14.18 and a beta of 0.38.

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

Insider Transactions at RLI

In other news, CEO Craig W. Kliethermes bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was acquired at an average cost of $52.00 per share, for a total transaction of $104,000.00. Following the completion of the purchase, the chief executive officer owned 150,990 shares of the company’s stock, valued at $7,851,480. This trade represents a 1.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Clark C. Kellogg bought 3,000 shares of RLI stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average cost of $50.90 per share, with a total value of $152,700.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 16,500 shares of company stock worth $858,955 over the last quarter. 2.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On RLI

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in RLI by 115.1% in the first quarter. Royal Bank of Canada now owns 56,386 shares of the insurance provider’s stock valued at $4,529,000 after acquiring an additional 30,170 shares during the period. Goldman Sachs Group Inc. lifted its stake in RLI by 110.8% during the first quarter. Goldman Sachs Group Inc. now owns 185,504 shares of the insurance provider’s stock worth $14,902,000 after purchasing an additional 97,501 shares during the period. Empowered Funds LLC lifted its stake in RLI by 472.3% during the first quarter. Empowered Funds LLC now owns 29,177 shares of the insurance provider’s stock worth $2,344,000 after purchasing an additional 24,079 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in RLI by 46.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,559 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 493 shares in the last quarter. Finally, Amundi boosted its holdings in RLI by 16,550.0% during the second quarter. Amundi now owns 23,976 shares of the insurance provider’s stock valued at $1,689,000 after purchasing an additional 23,832 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Company Profile

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.