RLI Corp. (NYSE:RLI) Director Michael E. Angelina Buys 2,200 Shares

RLI Corp. (NYSE:RLI) Director Michael E. Angelina bought 2,200 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average price of $72.62 per share, with a total value of $159,764.00. Following the completion of the transaction, the director now directly owns 23,514 shares of the company’s stock, valued at $1,707,586.68. This trade represents a 10.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

RLI Price Performance

RLI stock opened at $72.52 on Tuesday. RLI Corp. has a 1-year low of $67.04 and a 1-year high of $91.14. The business has a 50 day simple moving average of $82.71 and a two-hundred day simple moving average of $78.91. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 19.36 and a beta of 0.47.

RLI (NYSE:RLI) last issued its earnings results 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 return on equity of 16.38% and a net margin of 19.53%. Sell-side analysts anticipate that RLI Corp. will post 3.13 EPS for the current fiscal year.

RLI Cuts Dividend

The company also recently disclosed a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a dividend of $2.145 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a dividend yield of 0.7%. RLI’s payout ratio is 15.49%.

Institutional Investors Weigh In On RLI

Hedge funds have recently made changes to their positions in the company. State Street Corp grew its holdings in RLI by 1.3% during the 3rd quarter. State Street Corp now owns 4,393,250 shares of the insurance provider’s stock valued at $680,866,000 after buying an additional 58,167 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of RLI by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider’s stock valued at $140,817,000 after acquiring an additional 50,654 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of RLI by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 813,719 shares of the insurance provider’s stock valued at $126,110,000 after purchasing an additional 4,330 shares in the last quarter. Port Capital LLC increased its position in RLI by 0.4% in the third quarter. Port Capital LLC now owns 759,988 shares of the insurance provider’s stock worth $117,783,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Maren Capital LLC raised its stake in RLI by 4.3% during the third quarter. Maren Capital LLC now owns 674,729 shares of the insurance provider’s stock valued at $104,570,000 after purchasing an additional 27,940 shares in the last quarter. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods reduced their price objective on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. StockNews.com downgraded RLI from a “hold” rating to a “sell” rating in a research note on Monday. Oppenheimer assumed coverage on RLI in a research note on Wednesday, October 16th. They set a “market perform” rating for the company. Compass Point decreased their target price on shares of RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Jefferies Financial Group lowered shares of RLI from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $95.00 to $61.00 in a research report on Monday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, RLI has a consensus rating of “Hold” and an average price target 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.