RLI Corp. (NYSE:RLI)‘s stock had its “underperform” rating reiterated by equities research analysts at Royal Bank Of Canada in a research note issued on Friday, October 20th, MarketBeat reports. They presently have a $51.00 price objective on the insurance provider’s stock, up from their previous price objective of $50.00. Royal Bank Of Canada’s target price indicates a potential downside of 13.47% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday, July 24th. FBR & Co reaffirmed a “hold” rating on shares of RLI Corp. in a research report on Friday, July 21st. Keefe, Bruyette & Woods set a $51.00 target price on RLI Corp. and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Finally, BidaskClub cut RLI Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $46.75.
RLI Corp. (RLI) traded up $0.26 during trading on Friday, reaching $58.94. The company had a trading volume of 121,631 shares, compared to its average volume of 155,386. RLI Corp. has a 52-week low of $50.34 and a 52-week 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 $2,590.00, a price-to-earnings ratio of 35.73 and a beta of 1.29.
RLI Corp. (NYSE:RLI) last posted its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.44). RLI Corp. had a net margin of 9.97% and a return on equity of 8.53%. The firm had revenue of $196.20 million for the quarter, compared to analysts’ expectations of $195.89 million. During the same period last year, the firm posted $0.37 EPS. RLI Corp.’s revenue was down 4.9% on a year-over-year basis. equities research analysts forecast that RLI Corp. will post 1.56 EPS for the current fiscal year.
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In related news, Director Michael E. Angelina purchased 1,000 shares of the company’s stock in a transaction dated 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael J. Stone sold 991 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $57.40, for a total value of $56,883.40. The disclosure for this sale can be found here. Corporate insiders own 6.09% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan grew its holdings in RLI Corp. by 0.7% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,730 shares of the insurance provider’s stock worth $524,000 after buying an additional 60 shares in the last quarter. Jennison Associates LLC grew its holdings in RLI Corp. by 0.4% in the 2nd quarter. Jennison Associates LLC now owns 19,597 shares of the insurance provider’s stock worth $1,070,000 after buying an additional 77 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in RLI Corp. by 0.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 32,402 shares of the insurance provider’s stock worth $1,945,000 after buying an additional 89 shares in the last quarter. Stifel Financial Corp boosted its stake in RLI Corp. by 0.4% during the 2nd quarter. Stifel Financial Corp now owns 20,371 shares of the insurance provider’s stock valued at $1,118,000 after purchasing an additional 91 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in RLI Corp. by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 19,994 shares of the insurance provider’s stock valued at $1,092,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.15% of the company’s stock.
About RLI Corp.
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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