RLI Corp. (NYSE:RLI) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other research firms have also commented on RLI. Keefe, Bruyette & Woods set a $51.00 price target on shares of RLI Corp. and gave the company a “hold” rating in a research report on Wednesday, May 24th. ValuEngine raised shares of RLI Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. FBR & Co reissued a “hold” rating on shares of RLI Corp. in a research report on Thursday, April 20th. Zacks Investment Research raised shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Monday, July 24th. Finally, Royal Bank Of Canada reissued a “sell” rating and issued a $50.00 price target on shares of RLI Corp. in a research report on Monday, May 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. RLI Corp. has a consensus rating of “Hold” and a consensus target price of $47.00.

Shares of RLI Corp. (NYSE RLI) traded down 1.19% on Friday, hitting $54.93. 178,352 shares of the stock traded hands. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 24.31 and a beta of 1.21. The stock has a 50-day moving average price of $55.71 and a 200 day moving average price of $57.14. RLI Corp. has a 12-month low of $52.51 and a 12-month high of $71.46.

RLI Corp. (NYSE:RLI) last released its quarterly earnings results on Wednesday, July 19th. The insurance provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.09. RLI Corp. had a net margin of 12.38% and a return on equity of 10.10%. The company had revenue of $196.20 million for the quarter, compared to analyst estimates of $198.09 million. During the same quarter last year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts anticipate that RLI Corp. will post $2.01 earnings per share for the current fiscal year.

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In other news, Director Michael J. Stone sold 947 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $54.76, for a total value of $51,857.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael J. Stone sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $55.25, for a total transaction of $276,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,947 shares of company stock worth $501,958. 6.09% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. State Street Corp increased its stake in shares of RLI Corp. by 9.1% in the first quarter. State Street Corp now owns 6,152,020 shares of the insurance provider’s stock valued at $369,239,000 after buying an additional 514,755 shares during the last quarter. BlackRock Inc. increased its stake in shares of RLI Corp. by 11,386.7% in the first quarter. BlackRock Inc. now owns 4,695,862 shares of the insurance provider’s stock valued at $281,845,000 after buying an additional 4,654,981 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of RLI Corp. by 1.1% in the second quarter. Vanguard Group Inc. now owns 4,208,225 shares of the insurance provider’s stock valued at $229,853,000 after buying an additional 45,127 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of RLI Corp. by 0.7% in the second quarter. Neuberger Berman Group LLC now owns 2,437,870 shares of the insurance provider’s stock valued at $133,156,000 after buying an additional 15,876 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of RLI Corp. by 3.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,659,570 shares of the insurance provider’s stock valued at $90,646,000 after buying an additional 61,279 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

About RLI Corp.

RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.

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