Market Runner: Could RLI Corp. Crash Even More? The Stock Just Made 1 Year Low

Market Runner: Could RLI Corp. Crash Even More? The Stock Just Made 1 Year Low

The stock of RLI Corp. (NYSE:RLI) hit a new 52-week low and has $51.87 target or 5.00% below today’s $54.60 share price. The 8 months bearish chart indicates high risk for the $2.38 billion company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $51.87 price target is reached, the company will be worth $119.00 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 0.27% or $0.15 on November 7, hitting $54.6. About 195,201 shares traded hands. RLI Corp. (NYSE:RLI) has declined 17.10% since April 5, 2016 and is downtrending. It has underperformed by 19.05% the S&P500.

RLI Corp. (NYSE:RLI) Ratings Coverage

Out of 6 analysts covering RLI Corporation (NYSE:RLI), 0 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 0 are positive. RLI Corporation has been the topic of 10 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Thursday, January 7, the company rating was upgraded by Keefe Bruyette & Woods. The stock of RLI Corp. (NYSE:RLI) has “Mkt Perform” rating given on Thursday, September 3 by FBR Capital. Compass Point maintained the stock with “Neutral” rating in Wednesday, October 21 report. The stock of RLI Corp. (NYSE:RLI) earned “Sector Perform” rating by RBC Capital Markets on Wednesday, October 21. The rating was maintained by Compass Point with “Neutral” on Wednesday, January 27. FBR Capital maintained the shares of RLI in a report on Monday, August 3 with “Outperform” rating.

According to Zacks Investment Research, “RLI Corp., through its subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company, Underwriters Indemnity Company and Planet Indemnity Company, underwrites selected property and casualty insurance products. These include commercial property and inland marine, commercial general liability, commercial umbrella/excess liability, a variety of professional liability coverages, surety and fidelity bonds, personal insurance products in Hawaii, and other specialty coverages.”

Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.11, from 1.02 in 2016Q1. The ratio dropped, as 14 funds sold all RLI Corp. shares owned while 67 reduced positions. 20 funds bought stakes while 54 increased positions. They now own 34.42 million shares or 1.57% less from 34.97 million shares in 2016Q1.
Franklin Incorporated last reported 499,968 shares in the company. Jefferies Ltd Liability Co, a New York-based fund reported 5,029 shares. Raymond James Assocs owns 38,186 shares or 0.01% of their US portfolio. Prudential Fin Inc last reported 0.01% of its portfolio in the stock. Benedict has 0.87% invested in the company for 21,659 shares. Hexavest reported 1,900 shares or 0% of all its holdings. Laurion Cap Management L P has invested 0.01% of its portfolio in RLI Corp. (NYSE:RLI). The United Kingdom-based Polar Limited Liability Partnership has invested 0.21% in RLI Corp. (NYSE:RLI). Ls Inv Advisors Limited Liability has 1,370 shares for 0.01% of their US portfolio. Schwab Charles Investment Incorporated, a California-based fund reported 193,670 shares. The Nebraska-based Ameritas Inv Prns has invested 0.01% in RLI Corp. (NYSE:RLI). Deutsche National Bank & Trust Ag holds 0.01% of its portfolio in RLI Corp. (NYSE:RLI) for 145,361 shares. Susquehanna International Llp has 0% invested in the company for 50,724 shares. D E Shaw Comm Inc accumulated 0% or 6,684 shares. Lpl Fincl Ltd Limited Liability Company has 0.01% invested in the company for 14,458 shares.

Insider Transactions: Since May 26, 2016, the stock had 3 buys, and 4 insider sales for $1.02 million net activity. The insider RESTREPO ROBERT P JR bought 270 shares worth $18,857. Another trade for 5,300 shares valued at $343,451 was sold by STONE MICHAEL J. Bryant Todd Wayne sold $642,672 worth of RLI Corp. (NYSE:RLI) on Friday, June 10.

More important recent RLI Corp. (NYSE:RLI) news were published by: Nasdaq.com which released: “RLI Corp (RLI) Q3 Earnings Miss Estimates, Revenues in Line” on October 20, 2016, also Seekingalpha.com published article titled: “RLI Corp’s (RLI) CEO Jon Michael on Q3 2016 Results – Earnings Call Transcript”, Zacks.com published: “RLI Corp Poised for Long-Term Growth Despite Macro Risks” on October 04, 2016. More interesting news about RLI Corp. (NYSE:RLI) was released by: Seekingalpha.com and their article: “RLI Corp: Massively Overvalued Vs. Better Performing Peers” with publication date: January 15, 2016.

RLI Company Profile

RLI Corp., incorporated on May 4, 1993, is a specialty insurance company. The Firm operates through three divisions: Casualty, Property and Surety. The Firm underwrites selected property and casualty insurance through subsidiaries collectively known as RLI Insurance Group. The Firm conducts its activities through approximately three insurance companies. These companies are organized in a vertical structure beneath RLI Corp. with RLI Insurance Company (RLI Ins.) as the principal insurance subsidiary. RLI Ins. writes multiple lines of insurance on an admitted basis in over 50 states, the District of Columbia, Puerto Rico, the Virgin Islands and Guam. Mt. Hawley Insurance Company (Mt. Hawley), a subsidiary of RLI Ins., writes excess and surplus lines insurance on a non-admitted basis in over 50 states, the District of Columbia, Puerto Rico, the Virgin Islands and Guam. Contractors Bonding and Insurance Company (CBIC), a subsidiary of RLI Ins., writes multiple lines of insurance on an admitted basis in over 50 states and the District of Columbia. Each of its insurance companies is domiciled in Illinois. The Firm offers insurance coverages in both the specialty admitted and excess and surplus markets.

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