Keefe, Bruyette & Woods Issues Pessimistic Forecast for RLI (NYSE:RLI) Stock Price

RLI (NYSE:RLI) had its target price decreased by research analysts at Keefe, Bruyette & Woods from $95.00 to $85.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 16.80% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Compass Point lowered their price target on RLI from $185.00 to $82.00 and set a “buy” rating for the company in a report on Monday, January 27th. Royal Bank of Canada dropped their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. StockNews.com upgraded RLI from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Jefferies Financial Group downgraded shares of RLI from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $95.00 to $61.00 in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, RLI has an average rating of “Hold” and an average target price of $79.80.

RLI Trading Up 0.0 %

RLI traded up $0.02 during midday trading on Wednesday, reaching $72.78. 57,460 shares of the company were exchanged, compared to its average volume of 353,482. The stock has a market capitalization of $6.68 billion, a P/E ratio of 19.39 and a beta of 0.49. RLI has a one year low of $67.53 and a one year high of $91.15. The stock’s 50-day simple moving average is $76.07 and its 200 day simple moving average is $79.47. 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 (NYSE:RLI) last released its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a return on equity of 16.63% and a net margin of 19.53%. As a group, analysts forecast that RLI will post 3.08 earnings per share for the current fiscal year.

Insider Activity at RLI

In other RLI news, Director Michael E. Angelina bought 2,200 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average price of $72.62 per share, with a total value of $159,764.00. Following the completion of the transaction, the director now owns 23,514 shares in the company, valued at approximately $1,707,586.68. This trade represents a 10.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of RLI stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total transaction of $214,484.96. Following the completion of the sale, the director now owns 23,312 shares in the company, valued at $1,745,835.68. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 11,200 shares of company stock valued at $805,774. 5.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new position in shares of RLI during the 4th quarter worth approximately $31,000. Versant Capital Management Inc grew its stake in shares of RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after buying an additional 71 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in RLI by 76.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after buying an additional 100 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in RLI during the fourth quarter worth $56,000. Finally, EverSource Wealth Advisors LLC lifted its stake in RLI by 47.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $82,000 after acquiring an additional 159 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

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.