RLI (NYSE:RLI) Downgraded by Compass Point to Hold

RLI (NYSE:RLI - Get Free Report) was downgraded by analysts at Compass Point from a "strong-buy" rating to a "hold" rating in a report released on Friday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on RLI. StockNews.com raised shares of RLI from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Royal Bank of Canada reduced their price target on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. Jefferies Financial Group cut shares of RLI from a "buy" rating to an "underperform" rating and reduced their price target for the company from $95.00 to $61.00 in a research report on Monday, January 27th. JMP Securities reissued a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, RLI has an average rating of "Hold" and a consensus price target of $78.60.

RLI Stock Down 0.6 %

Shares of NYSE:RLI traded down $0.47 during trading on Friday, hitting $73.54. The company's stock had a trading volume of 169,129 shares, compared to its average volume of 362,103. The business has a 50 day moving average price of $76.37 and a two-hundred day moving average price of $79.27. The company has a market capitalization of $6.75 billion, a PE ratio of 19.63 and a beta of 0.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. RLI has a fifty-two week low of $68.50 and a fifty-two week high of $91.15.

RLI (NYSE:RLI - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million during the quarter, compared to the consensus estimate of $442.20 million. RLI had a net margin of 19.53% and a return on equity of 16.63%. The company's revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 earnings per share. As a group, research analysts expect that RLI will post 3.08 EPS for the current fiscal year.

Insider Transactions at RLI

In related news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $74.89, for a total value of $214,484.96. Following the completion of the transaction, the director now directly owns 23,312 shares in the company, valued at approximately $1,745,835.68. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jordan W. Graham sold 1,500 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total value of $112,155.00. Following the sale, the director now directly owns 12,854 shares of the company's stock, valued at approximately $961,093.58. This trade represents a 10.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.16% of the company's stock.

Institutional Investors Weigh In On RLI

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of RLI by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,752 shares of the insurance provider's stock valued at $77,759,000 after buying an additional 9,131 shares during the period. New York Life Investment Management LLC purchased a new stake in shares of RLI during the fourth quarter valued at approximately $728,000. Raymond James Financial Inc. bought a new stake in shares of RLI in the fourth quarter worth $17,854,000. Empowered Funds LLC bought a new stake in shares of RLI in the fourth quarter worth $840,000. Finally, Callan Family Office LLC bought a new stake in shares of RLI in the fourth quarter worth $1,199,000. Hedge funds and other 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.