WCM Investment Management LLC Purchases Shares of 15,426 RLI Corp. (NYSE:RLI)

WCM Investment Management LLC acquired a new position in shares of RLI Corp. (NYSE:RLI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,426 shares of the insurance provider’s stock, valued at approximately $2,542,000.

A number of other hedge funds have also modified their holdings of RLI. UMB Bank n.a. lifted its stake in RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 155 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of RLI in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc lifted its position in shares of 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 purchasing an additional 71 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in RLI during the third quarter worth $32,000. Finally, Nomura Asset Management Co. Ltd. grew 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 in the last quarter. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Performance

RLI opened at $75.73 on Tuesday. 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 Corp. has a 12-month low of $67.53 and a 12-month high of $91.14. The business has a 50 day moving average of $79.86 and a 200-day moving average of $79.19. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 20.22 and a beta of 0.46.

RLI (NYSE:RLI) last released its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. On average, equities research analysts expect that RLI Corp. will post 3.09 earnings per share for the current year.

Insider Buying and Selling at RLI

In other news, CEO Craig W. Kliethermes purchased 5,000 shares of RLI stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average cost of $71.35 per share, for a total transaction of $356,750.00. Following the purchase, the chief executive officer now directly owns 139,190 shares of the company’s stock, valued at $9,931,206.50. This trade represents a 3.73 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David B. Duclos acquired 2,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of $72.50 per share, for a total transaction of $145,000.00. Following the transaction, the director now directly owns 7,215 shares in the company, valued at approximately $523,087.50. This trade represents a 38.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 11,200 shares of company stock valued at $805,774 in the last three months. 5.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on RLI. Keefe, Bruyette & Woods cut their price target on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Jefferies Financial Group cut 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 research report on Monday, January 27th. JMP Securities restated a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. Compass Point cut their price objective on RLI from $185.00 to $82.00 and set a “buy” rating for the company in a report on Monday, January 27th. Finally, Oppenheimer began coverage on shares of RLI in a report on Wednesday, October 16th. They set a “market perform” rating on the stock. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $82.80.

RLI 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.