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

RLI Corp. (NYSE:RLI) Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total transaction of $214,484.96. Following the transaction, the director now owns 23,312 shares of the company’s stock, valued at $1,745,835.68. This trade represents a 10.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

RLI Stock Up 1.8 %

Shares of RLI stock opened at $75.74 on Friday. The firm’s 50 day moving average price is $75.58 and its 200-day moving average price is $79.33. 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 52-week low of $67.53 and a 52-week high of $91.15. The company has a market cap of $6.95 billion, a P/E ratio of 20.22 and a beta of 0.39.

RLI (NYSE:RLI) last released 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 return on equity of 16.63% and a net margin of 19.53%. On average, sell-side analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. This is a positive change from RLI’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, February 28th. RLI’s payout ratio is 16.00%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RLI. StockNews.com upgraded shares of RLI from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Keefe, Bruyette & Woods lowered their target price on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Royal Bank of Canada reduced their price target on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded shares of RLI from a “buy” rating to an “underperform” rating and reduced their price target for the stock 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 assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $82.80.

Hedge Funds Weigh In On RLI

Institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of RLI during the 4th quarter valued at approximately $31,000. Versant Capital Management Inc increased its holdings in shares of RLI by 53.8% during the 4th 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 in the last quarter. Nomura Asset Management Co. Ltd. increased 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 valued at $36,000 after purchasing an additional 100 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in RLI in the 4th quarter worth $56,000. Finally, EverSource Wealth Advisors LLC increased its holdings in RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after acquiring an additional 159 shares in the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

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.