RLI Corp. (NYSE:RLI) Insider Buys $144,260.00 in Stock

RLI Corp. (NYSE:RLI) insider Jeffrey D. Fick purchased 2,000 shares of the company’s stock in a transaction on Friday, January 24th. The stock was acquired at an average cost of $72.13 per share, for a total transaction of $144,260.00. Following the completion of the transaction, the insider now owns 142,061 shares in the company, valued at approximately $10,246,859.93. This trade represents a 1.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

RLI Price Performance

RLI stock opened at $72.52 on Tuesday. The firm has a market capitalization of $6.65 billion, a P/E ratio of 19.36 and a beta of 0.47. The stock has a fifty day moving average price of $82.71 and a two-hundred day moving average price of $78.91. RLI Corp. has a 52-week low of $67.04 and a 52-week high of $91.14.

RLI (NYSE:RLI) last announced its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a return on equity of 16.38% and a net margin of 19.53%. On average, equities research analysts predict that RLI Corp. will post 3.13 EPS for the current fiscal year.

RLI Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were issued a $2.145 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, November 29th. RLI’s payout ratio is currently 15.49%.

Institutional Investors Weigh In On RLI

A number of hedge funds and other institutional investors have recently bought and sold shares of RLI. Brown Brothers Harriman & Co. grew its holdings in shares of RLI by 0.8% during the third quarter. Brown Brothers Harriman & Co. now owns 7,879 shares of the insurance provider’s stock worth $1,221,000 after purchasing an additional 66 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. lifted its position in RLI by 1.2% during the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock worth $892,000 after buying an additional 68 shares in the last quarter. Versant Capital Management Inc grew its holdings in RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 71 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 77 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in RLI by 5.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock valued at $230,000 after acquiring an additional 89 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RLI shares. Oppenheimer began coverage on shares of RLI in a research report on Wednesday, October 16th. They set a “market perform” rating on the stock. StockNews.com lowered shares of RLI from a “hold” rating to a “sell” rating in a research report on Monday. JMP Securities reissued a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Jefferies Financial Group lowered shares of RLI from a “buy” rating to an “underperform” rating and lowered their price target for the company from $95.00 to $61.00 in a report on Monday. Finally, Wolfe Research began coverage on shares of RLI in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $91.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $82.80.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.