RLI (NYSE:RLI)‘s stock had its “hold” rating reiterated by equities research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Wednesday. They currently have a $55.00 price target on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 5.74% from the company’s previous close.

RLI has been the topic of a number of other reports. Zacks Investment Research lowered RLI from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. BidaskClub lowered RLI from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. B. Riley reiterated a “neutral” rating on shares of RLI in a research report on Monday, November 6th. Finally, Royal Bank Of Canada reiterated an “underperform” rating and issued a $51.00 price objective (up from $50.00) on shares of RLI in a research report on Friday, October 20th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. RLI currently has an average rating of “Hold” and an average price target of $47.75.

RLI (NYSE:RLI) traded down $0.07 during midday trading on Wednesday, reaching $58.35. The company had a trading volume of 186,849 shares, compared to its average volume of 158,994. The company has a market cap of $2,621.12, a price-to-earnings ratio of 36.06 and a beta of 1.27. RLI has a 1-year low of $50.34 and a 1-year high of $64.03. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, October 18th. The insurance provider reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.44). The business had revenue of $196.20 million for the quarter, compared to the consensus estimate of $195.89 million. RLI had a return on equity of 8.53% and a net margin of 9.97%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.37 earnings per share. research analysts anticipate that RLI will post 1.55 earnings per share for the current year.

In other news, Director Robert P. Restrepo, Jr. acquired 1,026 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were purchased at an average cost of $59.30 per share, for a total transaction of $60,841.80. Following the transaction, the director now owns 8,026 shares of the company’s stock, valued at $475,941.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael J. Stone sold 2,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $60.33, for a total value of $120,660.00. The disclosure for this sale can be found here. Insiders sold a total of 4,991 shares of company stock worth $296,903 over the last quarter. Corporate insiders own 6.09% of the company’s stock.

Several large investors have recently bought and sold shares of the company. State Street Corp boosted its position in shares of RLI by 2.4% in the 2nd quarter. State Street Corp now owns 6,297,222 shares of the insurance provider’s stock worth $343,954,000 after purchasing an additional 145,202 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of RLI by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,208,225 shares of the insurance provider’s stock worth $229,853,000 after purchasing an additional 45,127 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of RLI by 0.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,437,870 shares of the insurance provider’s stock worth $133,156,000 after purchasing an additional 15,876 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of RLI by 3.2% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,712,682 shares of the insurance provider’s stock worth $98,240,000 after purchasing an additional 53,112 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of RLI by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,073,775 shares of the insurance provider’s stock worth $61,593,000 after purchasing an additional 33,357 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

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About RLI

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.

Analyst Recommendations for RLI (NYSE:RLI)

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