RLI (NYSE:RLI) Price Target Lowered to $82.00 at Compass Point

RLI (NYSE:RLIFree Report) had its price target trimmed by Compass Point from $185.00 to $82.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

RLI has been the topic of a number of other reports. Oppenheimer initiated coverage on shares of RLI in a report on Wednesday, October 16th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods dropped their target price on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Wolfe Research began coverage on RLI in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $91.00 price target for the company. Jefferies Financial Group downgraded RLI from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $95.00 to $61.00 in a research report on Monday. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $82.80.

View Our Latest Stock Report on RLI

RLI Stock Up 0.1 %

Shares of RLI stock opened at $72.52 on Monday. RLI has a 52-week low of $67.04 and a 52-week high of $91.14. The stock has a market cap of $6.65 billion, a PE ratio of 19.36 and a beta of 0.47. The business has a 50-day simple moving average of $82.71 and a 200-day simple moving average of $78.91.

RLI (NYSE:RLIGet Free Report) last announced its quarterly earnings results 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 net margin of 19.53% and a return on equity of 16.38%. Sell-side analysts anticipate that RLI will post 3.13 earnings per share for the current fiscal year.

RLI Cuts Dividend

The company also recently disclosed a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were paid a dividend of $2.145 per share. The ex-dividend date was Friday, November 29th. This represents a yield of 0.7%. RLI’s dividend payout ratio (DPR) is currently 15.49%.

Insider Activity

In related news, Director Michael J. Stone sold 400 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $84.78, for a total transaction of $33,910.00. Following the completion of the sale, the director now owns 429,622 shares of the company’s stock, valued at approximately $36,421,205.05. This represents a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey D. Fick acquired 2,000 shares of the business’s stock in a transaction on Friday, January 24th. The stock was acquired at an average price of $72.13 per share, with a total value of $144,260.00. Following the acquisition, the insider now owns 142,061 shares in the company, valued at $10,246,859.93. The trade was a 1.43 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,200 shares of company stock worth $660,774 over the last quarter. 5.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RLI

A number of institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its stake in shares of RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after buying an additional 155 shares during the period. Versant Capital Management Inc lifted its holdings in 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 acquiring an additional 71 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in RLI in the third quarter worth approximately $32,000. Nomura Asset Management Co. Ltd. grew its position in RLI by 76.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Finally, American National Bank & Trust raised its position in RLI by 62.5% in the third quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

RLI Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for RLI (NYSE:RLI)

Receive News & Ratings for RLI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLI and related companies with MarketBeat.com's FREE daily email newsletter.