RLI Corp. (NYSE:RLI) Shares Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC raised its holdings in RLI Corp. (NYSE:RLI) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 62,899 shares of the insurance provider’s stock after buying an additional 1,902 shares during the period. Moran Wealth Management LLC’s holdings in RLI were worth $10,368,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. QRG Capital Management Inc. increased its holdings in shares of RLI by 4.2% in the third quarter. QRG Capital Management Inc. now owns 5,532 shares of the insurance provider’s stock valued at $857,000 after purchasing an additional 225 shares during the period. Atria Investments Inc grew its position in 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 buying an additional 735 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in RLI by 46.2% in the 3rd 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. Los Angeles Capital Management LLC raised its position in RLI by 22.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 113,651 shares of the insurance provider’s stock worth $17,614,000 after buying an additional 20,905 shares during the last quarter. Finally, Aigen Investment Management LP lifted its stake in shares of RLI by 118.3% in the 3rd quarter. Aigen Investment Management LP now owns 5,679 shares of the insurance provider’s stock worth $880,000 after acquiring an additional 3,078 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Stock Performance

NYSE RLI opened at $75.95 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38. RLI Corp. has a 1-year low of $67.53 and a 1-year high of $91.14. The firm has a market capitalization of $6.97 billion, a P/E ratio of 20.28 and a beta of 0.39. The business’s 50-day simple moving average is $76.30 and its 200-day simple moving average is $79.41.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. Equities analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders 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 0.79%. 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. RLI’s payout ratio is presently 16.00%.

Insiders Place Their Bets

In other news, Director Michael J. Stone sold 400 shares of the business’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 completion of the sale, the director now directly owns 429,622 shares in the company, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Craig W. Kliethermes bought 5,000 shares of the company’s stock in a transaction on Friday, January 24th. The shares were acquired at an average cost of $71.35 per share, for a total transaction of $356,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 139,190 shares of the company’s stock, valued at $9,931,206.50. This trade represents a 3.73 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 11,200 shares of company stock worth $805,774 in the last three months. 5.09% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on RLI shares. Keefe, Bruyette & Woods dropped their target price on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada dropped their price objective on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Compass Point reduced their target price on RLI from $185.00 to $82.00 and set a “buy” rating for the company in a report on Monday, January 27th. Jefferies Financial Group cut shares of RLI from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $95.00 to $61.00 in a research note on Monday, January 27th. Finally, StockNews.com upgraded shares of RLI from a “sell” rating to a “hold” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $82.80.

About RLI

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.