RLI’s (RLI) Market Perform Rating Reiterated at JMP Securities

RLI (NYSE:RLI)‘s stock had its “market perform” rating reiterated by equities researchers at JMP Securities in a report issued on Thursday,Benzinga reports.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods reduced their price objective on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Compass Point lifted their price objective on RLI from $85.00 to $92.50 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada upped their price objective on shares of RLI from $81.00 to $82.50 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on shares of RLI from $82.50 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer began coverage on shares of RLI in a report on Wednesday, October 16th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.20.

RLI Stock Down 10.0 %

RLI stock traded down $7.79 during midday trading on Thursday, hitting $70.28. The company’s stock had a trading volume of 226,877 shares, compared to its average volume of 466,795. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 15.42 and a beta of 0.47. The stock’s 50-day moving average price is $83.32 and its 200 day moving average price is $78.80. RLI has a 1 year low of $67.04 and a 1 year high of $91.14.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a return on equity of 19.03% and a net margin of 23.77%. As a group, equities analysts forecast that RLI will post 2.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael J. Stone sold 400 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $84.78, for a total transaction of $33,910.00. Following the transaction, the director now directly owns 429,622 shares in the company, valued at approximately $36,421,205.05. This represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.09% of the company’s stock.

Institutional Trading of RLI

A number of hedge funds have recently bought and sold shares of the company. KBC Group NV raised its stake in shares of RLI by 46.6% during the fourth quarter. KBC Group NV now owns 1,790 shares of the insurance provider’s stock worth $295,000 after acquiring an additional 569 shares in the last quarter. Blue Trust Inc. raised its position in RLI by 44.7% in the 4th quarter. Blue Trust Inc. now owns 3,120 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 964 shares during the period. Nepsis Inc. lifted its stake in RLI by 138.8% in the fourth quarter. Nepsis Inc. now owns 296,526 shares of the insurance provider’s stock worth $48,876,000 after purchasing an additional 172,370 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in RLI during the fourth quarter valued at about $211,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of RLI by 6.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 34,635 shares of the insurance provider’s stock valued at $5,709,000 after buying an additional 2,200 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.