RLI Corp. (NYSE:RLI) Director Acquires $159,764.00 in Stock

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, for a total transaction of $159,764.00. Following the transaction, the director now owns 23,514 shares in the company, valued at $1,707,586.68. This represents a 10.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

RLI Stock Up 0.3 %

Shares of RLI stock opened at $72.92 on Wednesday. The company has a market cap of $6.68 billion, a PE ratio of 19.47 and a beta of 0.47. RLI Corp. has a 52 week low of $67.04 and a 52 week high of $91.14. The business has a 50 day moving average price of $82.41 and a 200-day moving average price of $78.93.

RLI (NYSE:RLI) last issued its quarterly 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 16.38%. As a group, research analysts anticipate that RLI Corp. will post 3.13 EPS for the current year.

RLI Cuts Dividend

The company also recently announced a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a $2.145 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, November 29th. RLI’s dividend payout ratio is currently 15.47%.

Institutional Trading of RLI

Large investors have recently bought and sold shares of the company. UMB Bank n.a. increased its position in RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after buying an additional 155 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in RLI in the fourth quarter worth $31,000. Versant Capital Management Inc increased 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 buying an additional 71 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in RLI in the third quarter worth $32,000. Finally, Nomura Asset Management Co. Ltd. increased 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 buying an additional 100 shares during the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RLI shares. Oppenheimer started coverage on RLI in a report on Wednesday, October 16th. They issued a “market perform” rating on the stock. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and cut their price target for the stock from $95.00 to $61.00 in a report on Monday. StockNews.com lowered RLI from a “hold” rating to a “sell” rating in a report on Monday. Royal Bank of Canada cut their price target 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 target on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a report on Monday. Two equities 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, the stock presently has a consensus rating of “Hold” and an average price target of $82.80.

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.