Compass Point Has Lowered Expectations for RLI (NYSE:RLI) Stock Price

RLI (NYSE:RLI) had its price objective reduced by Compass Point from $185.00 to $82.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

RLI has been the subject of a number of other reports. Oppenheimer assumed coverage on RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating for the company. Royal Bank of Canada decreased their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods cut their price objective on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Jefferies Financial Group downgraded shares of RLI from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $95.00 to $61.00 in a research report on Monday. Finally, Wolfe Research started coverage on shares of RLI in a report on Wednesday, October 9th. They issued an “outperform” rating and a $91.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $82.80.

RLI Stock Down 0.9 %

Shares of RLI opened at $72.27 on Monday. RLI has a 52-week low of $67.04 and a 52-week high of $91.14. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 19.30 and a beta of 0.47. The business’s 50 day moving average is $82.12 and its two-hundred day moving average is $78.95.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a return on equity of 16.38% and a net margin of 19.53%. On average, equities analysts expect that RLI will post 3.13 earnings per share for the current fiscal year.

RLI Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were issued a $2.145 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a dividend yield of 0.7%. RLI’s payout ratio is currently 15.49%.

Insiders Place Their Bets

In related news, Director Michael E. Angelina bought 2,200 shares of RLI stock in a transaction dated Friday, January 24th. The stock was acquired at an average cost of $72.62 per share, with a total value of $159,764.00. Following the completion of the acquisition, the director now directly owns 23,514 shares in the company, valued at approximately $1,707,586.68. This trade represents a 10.32 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Stone sold 400 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $84.78, for a total value of $33,910.00. Following the sale, the director now owns 429,622 shares in the company, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 9,200 shares of company stock worth $660,774. 5.09% of the stock is owned by insiders.

Institutional Trading of RLI

Hedge funds and other institutional investors have recently modified their holdings of the business. Motiv8 Investments LLC purchased a new stake in RLI in the 3rd quarter worth about $217,000. Donaldson Capital Management LLC purchased a new position in RLI during the 3rd quarter valued at about $3,469,000. American National Bank & Trust increased its holdings in shares of RLI by 62.5% in the 3rd 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. D. E. Shaw & Co. Inc. lifted its position in shares of RLI by 18.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 161,880 shares of the insurance provider’s stock worth $22,775,000 after purchasing an additional 24,865 shares in the last quarter. Finally, Laurus Investment Counsel Inc. boosted its holdings in shares of RLI by 53.2% during the third quarter. Laurus Investment Counsel Inc. now owns 10,280 shares of the insurance provider’s stock worth $1,593,000 after purchasing an additional 3,570 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Company Profile

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.