Proficio Capital Partners LLC Takes Position in RLI Corp. (NYSE:RLI)

Proficio Capital Partners LLC acquired a new stake in RLI Corp. (NYSE:RLI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,022 shares of the insurance provider's stock, valued at approximately $2,146,000.

Several other hedge funds also recently modified their holdings of RLI. Charles Schwab Investment Management Inc. raised its stake in shares of RLI by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,752 shares of the insurance provider's stock valued at $77,759,000 after purchasing an additional 9,131 shares in the last quarter. New York Life Investment Management LLC acquired a new position in shares of RLI in the fourth quarter valued at $728,000. Empowered Funds LLC acquired a new position in shares of RLI in the fourth quarter valued at $840,000. Sanctuary Advisors LLC raised its stake in shares of RLI by 147.2% in the fourth quarter. Sanctuary Advisors LLC now owns 14,917 shares of the insurance provider's stock valued at $2,459,000 after purchasing an additional 8,883 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of RLI by 46.6% in the fourth quarter. KBC Group NV now owns 1,790 shares of the insurance provider's stock valued at $295,000 after purchasing an additional 569 shares in the last quarter. 77.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on RLI shares. StockNews.com upgraded RLI from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Compass Point dropped their price objective on RLI from $185.00 to $82.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Jefferies Financial Group lowered RLI from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $95.00 to $61.00 in a research note on Monday, January 27th. JMP Securities restated a "market perform" rating on shares of RLI in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on RLI from $100.50 to $100.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, RLI presently has a consensus rating of "Hold" and an average target price of $82.80.

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Insider Activity

In related news, insider Jeffrey D. Fick purchased 2,000 shares of the stock in a transaction on Friday, January 24th. The shares were purchased at an average price of $72.13 per share, with a total value of $144,260.00. Following the transaction, the insider now directly owns 142,061 shares of the company's stock, valued at $10,246,859.93. This trade represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jordan W. Graham sold 1,500 shares of RLI stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total value of $112,155.00. Following the transaction, the director now owns 12,854 shares of the company's stock, valued at $961,093.58. This represents a 10.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 11,200 shares of company stock worth $805,774 in the last 90 days. Corporate insiders own 5.09% of the company's stock.

RLI Trading Up 0.2 %

RLI stock traded up $0.18 during mid-day trading on Friday, hitting $76.31. The stock had a trading volume of 961,936 shares, compared to its average volume of 328,035. The stock has a 50-day simple moving average of $75.46 and a two-hundred day simple moving average of $79.33. The stock has a market capitalization of $7.00 billion, a PE ratio of 20.38 and a beta of 0.39. RLI Corp. has a 12 month low of $67.53 and a 12 month high of $91.15. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (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%. As a group, sell-side analysts forecast that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 28th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, February 28th. This is a boost from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is 16.00%.

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.