Robert P. Restrepo, Jr. Sells 2,864 Shares of RLI Corp. (NYSE:RLI) Stock

RLI Corp. (NYSE:RLI) Director Robert P. Restrepo, Jr. sold 2,864 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $74.89, for a total value of $214,484.96. Following the sale, the director now owns 23,312 shares in the company, valued at approximately $1,745,835.68. The trade was a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

RLI Trading Up 1.8 %

Shares of NYSE RLI opened at $75.74 on Monday. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 20.22 and a beta of 0.39. The business has a 50 day simple moving average of $75.58 and a 200 day simple moving average of $79.38. RLI Corp. has a 52 week low of $67.53 and a 52 week high of $91.15. 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 (NYSE:RLI) last announced its quarterly earnings results 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, research analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be paid a $0.15 dividend. This is a boost from RLI’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. RLI’s payout ratio is presently 16.00%.

Wall Street Analysts Forecast Growth

RLI has been the topic of several recent analyst reports. Compass Point cut their price objective on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, January 27th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. Royal Bank of Canada lowered their target price on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Keefe, Bruyette & Woods lowered their target price 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, Jefferies Financial Group cut RLI from a “buy” rating to an “underperform” rating and lowered their target price for the company from $95.00 to $61.00 in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.80.

Institutional Investors Weigh In On RLI

Several large investors have recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in RLI during the fourth quarter worth approximately $31,000. Versant Capital Management Inc boosted its position in RLI by 53.8% during 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 during the period. Nomura Asset Management Co. Ltd. boosted its position in RLI by 76.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. SBI Securities Co. Ltd. bought a new stake in RLI during the fourth quarter worth approximately $56,000. Finally, EverSource Wealth Advisors LLC boosted its position in RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after purchasing an additional 159 shares during the period. 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.