Equitable Trust Co. Makes New $486,000 Investment in RLI Corp. (NYSE:RLI)

Equitable Trust Co. purchased a new stake in RLI Corp. (NYSE:RLI) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 2,950 shares of the insurance provider’s stock, valued at approximately $486,000.

A number of other large investors also recently made changes to their positions in RLI. UMB Bank n.a. increased its stake in RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 155 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in RLI in the 4th quarter valued at about $31,000. Versant Capital Management Inc grew its holdings in RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after buying an additional 71 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of RLI during the 3rd quarter valued at about $32,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of RLI by 76.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Insiders Place Their Bets

In other news, Director David B. Duclos bought 2,000 shares of RLI stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of $72.50 per share, with a total value of $145,000.00. Following the completion of the transaction, the director now owns 7,215 shares in the company, valued at approximately $523,087.50. This trade represents a 38.35 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael E. Angelina purchased 2,200 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average cost of $72.62 per share, with a total value of $159,764.00. Following the completion of the acquisition, the director now owns 23,514 shares in the company, valued at approximately $1,707,586.68. This represents a 10.32 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 11,200 shares of company stock worth $805,774 in the last 90 days. 5.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RLI has been the subject of a number of recent analyst reports. JMP Securities restated a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Jefferies Financial Group cut shares of RLI from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $95.00 to $61.00 in a research note on Monday, January 27th. Compass Point cut their target price on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. StockNews.com downgraded RLI from a “hold” rating to a “sell” rating in a research report on Monday, January 27th. Finally, Oppenheimer initiated coverage on RLI in a report on Wednesday, October 16th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $82.80.

RLI Stock Down 0.1 %

Shares of RLI stock opened at $75.57 on Wednesday. RLI Corp. has a twelve month low of $67.53 and a twelve month high of $91.14. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 20.18 and a beta of 0.46. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $79.63 and a 200 day moving average price of $79.22.

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 the consensus estimate of $1.05 by ($0.64). RLI had a return on equity of 16.63% and a net margin of 19.53%. Equities research analysts forecast that RLI Corp. will post 3.09 earnings per share for the current fiscal year.

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.