Insider Selling: RLI Corp. (NYSE:RLI) Director Sells 1,500 Shares of Stock

RLI Corp. (NYSE:RLI) Director Jordan W. Graham sold 1,500 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 12,854 shares of the company’s stock, valued at $961,093.58. This trade represents a 10.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

RLI Stock Performance

NYSE RLI opened at $75.74 on Friday. The stock’s fifty day moving average is $75.58 and its two-hundred day moving average is $79.36. The firm has a market capitalization of $6.95 billion, a P/E ratio of 20.22 and a beta of 0.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. RLI Corp. has a fifty-two week low of $67.53 and a fifty-two week high of $91.15.

RLI (NYSE:RLI) last posted its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 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%. On average, research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The firm also recently announced 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 is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. This is an increase from RLI’s previous quarterly dividend of $0.15. RLI’s payout ratio is currently 16.00%.

Analysts Set New Price Targets

A number of analysts have recently commented on RLI shares. Royal Bank of Canada cut their price objective on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Compass Point cut their price objective on RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, January 27th. StockNews.com raised RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods lowered their price target on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, RLI presently has a consensus rating of “Hold” and an average target price of $82.80.

Institutional Investors Weigh In On RLI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new stake in RLI in the fourth quarter valued at $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 valued at $33,000 after purchasing an additional 71 shares during the period. 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 valued at $36,000 after purchasing an additional 100 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of RLI in the 4th quarter valued at $56,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

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.