RLI Corp. (NYSE:RLI) Shares Sold by AGF Management Ltd.

AGF Management Ltd. reduced its position in shares of RLI Corp. (NYSE:RLI - Free Report) by 29.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,694 shares of the insurance provider's stock after selling 6,034 shares during the period. AGF Management Ltd.'s holdings in RLI were worth $2,422,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RLI. Brown Brothers Harriman & Co. raised its stake in shares of RLI by 0.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,879 shares of the insurance provider's stock worth $1,221,000 after buying an additional 66 shares in the last quarter. Versant Capital Management Inc grew its holdings 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 acquiring an additional 71 shares during the period. OneDigital Investment Advisors LLC raised its position in RLI by 2.6% in the third quarter. OneDigital Investment Advisors LLC now owns 3,723 shares of the insurance provider's stock worth $577,000 after acquiring an additional 95 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings 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 acquiring an additional 100 shares during the period. Finally, SkyView Investment Advisors LLC boosted its position in shares of RLI by 2.3% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,545 shares of the insurance provider's stock worth $704,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

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Analyst Ratings Changes

RLI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their price target 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. JMP Securities reiterated a "market perform" rating on shares of RLI in a research report on Thursday, January 23rd. Jefferies Financial Group cut RLI from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $95.00 to $61.00 in a report on Monday, January 27th. Compass Point reduced 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, StockNews.com raised RLI from a "sell" rating to a "hold" rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, RLI presently has a consensus rating of "Hold" and an average target price of $82.80.

Insider Transactions at RLI

In other RLI news, CEO Craig W. Kliethermes acquired 5,000 shares of the stock in a transaction dated Friday, January 24th. The stock was acquired at an average price of $71.35 per share, with a total value of $356,750.00. Following the completion of the transaction, the chief executive officer now directly owns 139,190 shares in the company, valued at approximately $9,931,206.50. This trade represents a 3.73 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the 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 transaction, the director now owns 23,312 shares in the company, valued at $1,745,835.68. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 11,200 shares of company stock worth $805,774 over the last ninety days. 5.09% of the stock is currently owned by corporate insiders.

RLI Price Performance

NYSE:RLI traded up $0.98 during trading hours on Monday, reaching $76.67. 286,052 shares of the company traded hands, compared to its average volume of 323,638. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38. The firm's 50-day moving average is $75.58 and its 200-day moving average is $79.38. The stock has a market cap of $7.04 billion, a P/E ratio of 20.47 and a beta of 0.39. RLI Corp. has a 1-year low of $67.53 and a 1-year high of $91.15.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data 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 net margin of 19.53% and a return on equity of 16.63%. Equities research analysts expect 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. Shareholders of record on Friday, February 28th will be paid a dividend of $0.15 per share. This is a boost from RLI's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, February 28th. RLI's dividend payout ratio (DPR) is currently 16.00%.

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.