RLI Corp. (NYSE:RLI)‘s stock had its “underperform” rating restated by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday, MarketBeat.com reports. They currently have a $51.00 price target on the insurance provider’s stock, up from their previous price target of $50.00. Royal Bank Of Canada’s price objective would suggest a potential downside of 12.11% from the company’s previous close.

A number of other analysts have also weighed in on the stock. FBR & Co reissued a “hold” rating on shares of RLI Corp. in a report on Friday, July 21st. Zacks Investment Research raised shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Monday, July 24th. BidaskClub lowered shares of RLI Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Keefe, Bruyette & Woods set a $51.00 price target on shares of RLI Corp. and gave the company a “hold” rating in a report on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. RLI Corp. has an average rating of “Hold” and an average target price of $46.75.

RLI Corp. (NYSE:RLI) traded down 0.59% during midday trading on Friday, reaching $57.69. The company’s stock had a trading volume of 12,404 shares. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 25.53 and a beta of 1.24. RLI Corp. has a 52-week low of $50.34 and a 52-week high of $64.66. The firm has a 50-day moving average price of $55.86 and a 200 day moving average price of $55.85.

RLI Corp. (NYSE:RLI) last issued its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.44). The company had revenue of $196.20 million during the quarter, compared to analyst estimates of $195.89 million. RLI Corp. had a net margin of 9.97% and a return on equity of 8.53%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS. Equities research analysts predict that RLI Corp. will post $1.53 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “RLI Corp.’s (RLI) Underperform Rating Reaffirmed at Royal Bank Of Canada” was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/21/royal-bank-of-canada-raises-rli-corp-rli-price-target-to-51-00.html.

In other news, Director Michael J. Stone sold 991 shares of RLI Corp. stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $57.40, for a total transaction of $56,883.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael J. Stone sold 3,000 shares of RLI Corp. stock in a transaction on Monday, July 31st. The stock was sold at an average price of $57.95, for a total transaction of $173,850.00. The disclosure for this sale can be found here. 6.09% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in RLI. Russell Investments Group Ltd. boosted its position in shares of RLI Corp. by 100.0% during the first quarter. Russell Investments Group Ltd. now owns 8,600 shares of the insurance provider’s stock worth $516,000 after purchasing an additional 4,300 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of RLI Corp. by 14.8% during the first quarter. UBS Asset Management Americas Inc. now owns 47,180 shares of the insurance provider’s stock worth $2,832,000 after purchasing an additional 6,070 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of RLI Corp. by 28.1% during the first quarter. Parametric Portfolio Associates LLC now owns 86,155 shares of the insurance provider’s stock worth $5,171,000 after purchasing an additional 18,878 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of RLI Corp. by 4.6% during the first quarter. Prudential Financial Inc. now owns 75,954 shares of the insurance provider’s stock worth $4,559,000 after purchasing an additional 3,370 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of RLI Corp. by 0.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,730 shares of the insurance provider’s stock worth $524,000 after purchasing an additional 60 shares in the last quarter. 82.92% of the stock is currently owned by institutional investors.

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.

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