RLI (NYSE:RLI) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded RLI from “sell” to “hold,” while the broader analyst consensus remains “Hold” with an average price target of $63.00.
• RLI reported quarterly EPS of $0.83, beating estimates of $0.72, while revenue rose 15.2% year over year to $575.57 million.
• Company insiders purchased 16,500 shares worth approximately $858,955 over the past three months, and institutional investors own 77.89% of RLI’s outstanding stock.

RLI (NYSE:RLI - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

RLI has been the topic of several other research reports. Weiss Ratings raised RLI from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $74.00 target price (up from $70.00) on shares of RLI in a research note on Tuesday. UBS Group set a $74.00 price target on shares of RLI in a report on Tuesday. Finally, Wells Fargo & Company lowered shares of RLI from an "equal weight" rating to an "underweight" rating and set a $57.00 price target for the company. in a research report on Wednesday. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, RLI has an average rating of "Hold" and an average price target of $63.00.

RLI Stock Performance

Shares of RLI stock opened at $61.31 on Friday. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 12.88 and a beta of 0.38. RLI has a 52-week low of $47.26 and a 52-week high of $69.19. The company has a 50-day simple moving average of $57.04 and a two-hundred day simple moving average of $57.49.

RLI (NYSE:RLI - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.11. The firm had revenue of $575.57 million for the quarter, compared to the consensus estimate of $568.70 million. RLI had a return on equity of 17.61% and a net margin of 22.22%.The company's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 EPS. On average, sell-side analysts forecast that RLI will post 2.85 EPS for the current fiscal year.

Insider Transactions at RLI

In other news, COO Jennifer L. Klobnak purchased 2,000 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $52.72 per share, with a total value of $105,440.00. Following the transaction, the chief operating officer directly owned 104,318 shares of the company's stock, valued at approximately $5,499,644.96. This represents a 1.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Duclos purchased 2,500 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of $51.99 per share, with a total value of $129,975.00. Following the purchase, the director directly owned 9,780 shares in the company, valued at $508,462.20. This trade represents a 34.34% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 16,500 shares of company stock valued at $858,955. Corporate insiders own 2.39% of the company's stock.

Institutional Trading of RLI

Several hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd grew its stake in shares of RLI by 13.0% in the 4th quarter. Covestor Ltd now owns 1,590 shares of the insurance provider's stock worth $102,000 after buying an additional 183 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of RLI by 28.5% in the 2nd quarter. Versant Capital Management Inc now owns 835 shares of the insurance provider's stock worth $49,000 after buying an additional 185 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of RLI by 94.4% during the 4th quarter. Farther Finance Advisors LLC now owns 414 shares of the insurance provider's stock valued at $26,000 after buying an additional 201 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of RLI by 0.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 75,502 shares of the insurance provider's stock valued at $4,924,000 after buying an additional 207 shares in the last quarter. Finally, OLD National Bancorp IN lifted its holdings in shares of RLI by 4.0% in the 4th quarter. OLD National Bancorp IN now owns 5,819 shares of the insurance provider's stock valued at $372,000 after acquiring an additional 224 shares during the last quarter. Institutional investors own 77.89% of the company's stock.

About RLI

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.

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