RLI Corp. (NYSE:RLI) Short Interest Down 15.1% in December

RLI Corp. (NYSE:RLI) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 418,100 shares, a decline of 15.1% from the November 30th total of 492,700 shares. Based on an average trading volume of 166,700 shares, the short-interest ratio is presently 2.5 days. Currently, 1.0% of the company’s stock are sold short.

RLI Trading Up 0.0 %

Shares of NYSE:RLI traded up $0.06 on Tuesday, hitting $164.83. The company had a trading volume of 93,261 shares, compared to its average volume of 156,398. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 18.11 and a beta of 0.46. The stock has a 50 day moving average price of $168.63 and a 200 day moving average price of $155.75. RLI has a 1-year low of $132.30 and a 1-year high of $182.29.

Shares of RLI are going to split on the morning of Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly issued shares will be payable to shareholders after the closing bell on Wednesday, January 15th.

RLI (NYSE:RLI) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.33. RLI had a net margin of 23.77% and a return on equity of 19.03%. The firm had revenue of $470.00 million for the quarter, compared to analysts’ expectations of $491.54 million. During the same period in the prior year, the firm earned $0.61 EPS. The business’s revenue was up 41.7% on a year-over-year basis. Sell-side analysts anticipate that RLI will post 5.85 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently declared a None dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were paid a $4.29 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is an increase from RLI’s previous None dividend of $2.25. This represents a yield of 0.7%. RLI’s payout ratio is 12.75%.

Insider Buying and Selling at RLI

In related news, Director Michael J. Stone sold 200 shares of RLI stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $169.55, for a total value of $33,910.00. Following the sale, the director now owns 214,811 shares of the company’s stock, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of RLI by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 428,331 shares of the insurance provider’s stock valued at $60,262,000 after acquiring an additional 1,979 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in RLI by 2.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,485 shares of the insurance provider’s stock valued at $1,334,000 after purchasing an additional 196 shares during the period. Van ECK Associates Corp grew its position in shares of RLI by 3.2% during the 2nd quarter. Van ECK Associates Corp now owns 19,495 shares of the insurance provider’s stock worth $2,743,000 after purchasing an additional 605 shares in the last quarter. nVerses Capital LLC bought a new position in shares of RLI during the second quarter worth approximately $113,000. Finally, Natixis Advisors LLC raised its position in shares of RLI by 1.0% in the second quarter. Natixis Advisors LLC now owns 134,140 shares of the insurance provider’s stock valued at $18,872,000 after buying an additional 1,286 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

Wall Street Analysts Forecast Growth

RLI has been the topic of several recent analyst reports. Compass Point boosted their price target on RLI from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Oppenheimer initiated coverage on shares of RLI in a report on Wednesday, October 16th. They set a “market perform” rating on the stock. Jefferies Financial Group increased their price target on shares of RLI from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wolfe Research started coverage on shares of RLI in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on shares of RLI from $162.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.40.

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.