RLI stock vulnerable after earnings miss: JMP

Analysts kept neutral ratings on specialty insurer RLI after a
first quarter earnings miss, though at least one warned of a
possible negative stock reaction.
The carrier yesterday reported a 19 percent decrease in
operating earnings to $19.4mn.
It faced headwinds from escalating commercial auto claims, while
its casualty unit posted a combined ratio of 106 percent.
RLI's earnings per sharewere $0.44 in Q1, down from $0.54 last year and behind the
analyst consensus prediction of $0.49.
JMP Securi