Insider Selling: RLI Corp. (NYSE:RLI) Director Sells $214,484.96 in Stock

RLI Corp. (NYSE:RLI) Director Robert P. Restrepo, Jr. sold 2,864 shares of RLI stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $74.89, for a total transaction of $214,484.96. Following the completion of the transaction, the director now directly owns 23,312 shares of the company’s stock, valued at approximately $1,745,835.68. This represents a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

RLI Price Performance

Shares of NYSE RLI opened at $75.74 on Monday. RLI Corp. has a fifty-two week low of $67.53 and a fifty-two week high of $91.15. The firm’s 50-day simple moving average is $75.58 and its 200 day simple moving average is $79.38. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The stock has a market cap of $6.95 billion, a P/E ratio of 20.22 and a beta of 0.39.

RLI (NYSE:RLI) last issued its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share 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%. Equities analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from RLI’s previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a yield of 0.79%. RLI’s payout ratio is 16.00%.

Institutional Investors Weigh In On RLI

Hedge funds and other institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC bought a new stake in RLI in the fourth quarter worth about $31,000. Versant Capital Management Inc raised its position in RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 71 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in RLI by 76.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in RLI in the fourth quarter worth about $56,000. Finally, EverSource Wealth Advisors LLC raised its position in RLI by 47.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after acquiring an additional 159 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of RLI from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Jefferies Financial Group downgraded shares of RLI from a “buy” rating to an “underperform” rating and reduced their price target for the company from $95.00 to $61.00 in a report on Monday, January 27th. Royal Bank of Canada reduced their price target on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Compass Point reduced their price target on shares of RLI from $185.00 to $82.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. One research 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, RLI 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.