RLI Corp. (NYSE:RLI) Director Jordan W. Graham Sells 1,500 Shares

RLI Corp. (NYSE:RLI) Director Jordan W. Graham sold 1,500 shares of RLI stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total value of $112,155.00. Following the completion of the transaction, the director now owns 12,854 shares in the company, valued at approximately $961,093.58. The trade was a 10.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

RLI Trading Up 0.6 %

RLI traded up $0.48 during midday trading on Thursday, hitting $74.45. 276,569 shares of the company were exchanged, compared to its average volume of 518,570. The firm has a market capitalization of $6.83 billion, a P/E ratio of 19.88 and a beta of 0.39. RLI Corp. has a 1-year low of $67.53 and a 1-year high of $91.14. The firm’s 50 day moving average price is $75.84 and its 200-day moving average price is $79.37. 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 announced 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 net margin of 19.53% and a return on equity of 16.63%. As a group, equities analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. This is an increase 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 currently 16.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RLI. Golden State Wealth Management LLC acquired a new position in shares of RLI in the 4th quarter valued at about $31,000. Versant Capital Management Inc lifted 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 purchasing 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. SBI Securities Co. Ltd. bought a new stake in RLI in the 4th quarter valued at about $56,000. Finally, EverSource Wealth Advisors LLC increased its position in RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $82,000 after buying an additional 159 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com upgraded RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and decreased their price target for the company from $95.00 to $61.00 in a research note on Monday, January 27th. Keefe, Bruyette & Woods cut their price objective on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada cut 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. Finally, Compass Point cut their price objective on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, January 27th. One research 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 data from MarketBeat.com, RLI currently has an average 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.