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

RLI (NYSE:RLI) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently issued reports on RLI. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 price target (up from $70.00) on shares of RLI in a report on Tuesday, July 28th. Wells Fargo & Company cut shares of RLI from an “equal weight” rating to an “underweight” rating and set a $57.00 price objective on the stock. in a research note on Wednesday. Weiss Ratings raised shares of RLI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Finally, UBS Group set a $74.00 price objective on shares of RLI in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.00.

RLI Price Performance

RLI stock opened at $61.31 on Friday. The stock has a fifty day moving average price of $57.04 and a two-hundred day moving average price of $57.48. RLI has a 52-week low of $47.26 and a 52-week high of $69.19. The firm has a market capitalization of $5.63 billion, a P/E ratio of 12.88 and a beta of 0.38.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. RLI had a return on equity of 17.61% and a net margin of 22.22%.The company had revenue of $575.57 million during the quarter, compared to analysts’ expectations of $568.70 million. During the same period last year, the business earned $0.82 earnings per share. The business’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts predict that RLI will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Jennifer L. Klobnak acquired 2,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $53.42 per share, for a total transaction of $106,840.00. Following the transaction, the chief operating officer owned 102,318 shares of the company’s stock, valued at $5,465,827.56. The trade was a 1.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Duclos acquired 2,500 shares of the stock in a transaction on Thursday, May 28th. The stock was bought at an average price of $51.99 per share, with a total value of $129,975.00. Following the transaction, the director directly owned 9,780 shares in the company, valued at approximately $508,462.20. This represents a 34.34% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 16,500 shares of company stock valued at $858,955. 2.39% of the stock is owned by corporate insiders.

Institutional Trading of RLI

Several hedge funds have recently modified their holdings of RLI. Farther Finance Advisors LLC lifted its holdings in RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider’s stock worth $26,000 after buying an additional 201 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of RLI by 156.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 464 shares of the insurance provider’s stock valued at $30,000 after buying an additional 283 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of RLI in the 4th quarter valued at $43,000. IFP Advisors Inc raised its position in shares of RLI by 85.9% during the fourth quarter. IFP Advisors Inc now owns 684 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 316 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of RLI during the third quarter worth $47,000. 77.89% of the stock is owned by institutional investors.

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.