Insider Selling: RLI Corp. (NYSE:RLI) Director Sells 1,500 Shares of Stock

RLI Corp. (NYSE:RLI) Director Jordan W. Graham sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total transaction of $112,155.00. Following the completion of the transaction, the director now owns 12,854 shares in the company, valued at $961,093.58. This represents a 10.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

RLI Trading Up 0.6 %

Shares of RLI stock opened at $74.45 on Friday. The stock has a market cap of $6.83 billion, a P/E ratio of 19.88 and a beta of 0.39. The business’s 50 day moving average is $75.69 and its 200-day moving average is $79.33. RLI Corp. has a 12-month low of $67.53 and a 12-month high of $91.14. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI) last issued its quarterly earnings data 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 16.63% and a net margin of 19.53%. Equities research analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, February 28th. This is a positive change from RLI’s previous quarterly dividend of $0.15. RLI’s dividend payout ratio is presently 16.00%.

Institutional Trading of RLI

Several large investors have recently modified their holdings of the stock. Atria Investments Inc increased its stake in shares of RLI by 8.5% in the 3rd quarter. Atria Investments Inc now owns 9,380 shares of the insurance provider’s stock valued at $1,454,000 after purchasing an additional 735 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of RLI by 46.2% in the third quarter. Crossmark Global Holdings Inc. now owns 4,072 shares of the insurance provider’s stock valued at $631,000 after buying an additional 1,286 shares during the period. Aigen Investment Management LP lifted its holdings in RLI by 118.3% in the third quarter. Aigen Investment Management LP now owns 5,679 shares of the insurance provider’s stock valued at $880,000 after buying an additional 3,078 shares during the period. Empower Advisory Group LLC grew its stake in RLI by 1.8% during the third quarter. Empower Advisory Group LLC now owns 120,700 shares of the insurance provider’s stock worth $18,706,000 after purchasing an additional 2,157 shares during the period. Finally, KBC Group NV increased its stake in shares of RLI by 16.3% in the 3rd quarter. KBC Group NV now owns 1,221 shares of the insurance provider’s stock valued at $189,000 after acquiring an additional 171 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RLI shares. StockNews.com raised RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods reduced their target price on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Compass Point cut their price target on shares of RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. JMP Securities reissued a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Finally, Royal Bank of Canada dropped their target price on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.