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

RLI (NYSE:RLI) had its price objective cut 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.

A number of other equities analysts also recently commented on the stock. 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 research note on Monday. Oppenheimer started coverage on RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating on the stock. Wolfe Research began coverage on RLI in a research report on Wednesday, October 9th. They set an “outperform” rating and a $91.00 target price for the company. Keefe, Bruyette & Woods dropped their price target on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada cut their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Friday. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $82.80.

RLI Stock Performance

Shares of RLI stock opened at $72.52 on Monday. The stock has a 50 day moving average price of $82.71 and a 200 day moving average price of $78.91. RLI has a 52-week low of $67.04 and a 52-week high of $91.14. The firm has a market capitalization of $6.65 billion, a P/E ratio of 19.36 and a beta of 0.47.

RLI (NYSE:RLI) last released its earnings results 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 16.38% and a net margin of 19.53%. As a group, sell-side analysts forecast that RLI will post 3.13 EPS for the current year.

RLI Cuts Dividend

The business also recently declared a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a $2.145 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, November 29th. RLI’s payout ratio is 15.49%.

Insider Activity at RLI

In other RLI news, Director Michael J. Stone sold 400 shares of RLI stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the transaction, the director now directly owns 429,622 shares of the company’s stock, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey D. Fick acquired 2,000 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were 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 approximately $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 purchased a total of 9,200 shares of company stock valued at $660,774 over the last quarter. 5.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RLI

Institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its position in shares of RLI by 0.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,879 shares of the insurance provider’s stock valued at $1,221,000 after acquiring an additional 66 shares during the period. Klein Pavlis & Peasley Financial Inc. increased its holdings in shares of RLI by 1.2% in the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock valued at $892,000 after purchasing an additional 68 shares during the period. Versant Capital Management Inc raised 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 worth $33,000 after purchasing an additional 71 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of RLI by 5.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock worth $230,000 after purchasing an additional 89 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its position in RLI by 2.6% in the third quarter. OneDigital Investment Advisors LLC now owns 3,723 shares of the insurance provider’s stock valued at $577,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds 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.