Everhart Financial Group Inc. Acquires 148 Shares of RLI Corp. (NYSE:RLI)

Everhart Financial Group Inc. increased its stake in RLI Corp. (NYSE:RLI) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,633 shares of the insurance provider’s stock after purchasing an additional 148 shares during the quarter. Everhart Financial Group Inc.’s holdings in RLI were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RLI. Golden State Wealth Management LLC acquired a new stake in RLI in the fourth quarter worth $31,000. V Square Quantitative Management LLC bought a new position in shares of RLI during the 3rd quarter worth about $32,000. Versant Capital Management Inc grew its stake in shares of RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after buying an additional 71 shares during the period. Nomura Asset Management Co. Ltd. increased its position in RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in RLI during the 3rd quarter worth approximately $70,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

Analysts Set New Price Targets

RLI has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group cut shares of RLI from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $95.00 to $61.00 in a report on Monday, January 27th. Compass Point decreased their target price on shares of RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, January 27th. StockNews.com cut shares of RLI from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Finally, JMP Securities reissued a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $82.80.

RLI Trading Down 1.2 %

NYSE:RLI opened at $75.16 on Tuesday. RLI Corp. has a 52 week low of $67.53 and a 52 week high of $91.14. The firm has a 50-day moving average price of $78.75 and a two-hundred day moving average price of $79.24. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 20.07 and a beta of 0.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34.

RLI (NYSE:RLI) last issued its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a return on equity of 16.63% and a net margin of 19.53%. On average, equities analysts expect that RLI Corp. will post 3.09 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be given a $0.15 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.80%. RLI’s payout ratio is currently 15.49%.

Insider Buying and Selling at RLI

In related news, Director Michael J. Stone sold 400 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $84.78, for a total value of $33,910.00. Following the transaction, the director now owns 429,622 shares in the company, valued at approximately $36,421,205.05. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey D. Fick bought 2,000 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was purchased at an average cost of $72.13 per share, with a total value of $144,260.00. Following the completion of the transaction, the insider now directly owns 142,061 shares of the company’s stock, valued at approximately $10,246,859.93. The trade was a 1.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 11,200 shares of company stock worth $805,774 over the last three months. 5.09% of the stock is currently owned by insiders.

RLI 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.