RLI Corp. (NYSE:RLI) Shares Acquired by Barclays PLC

Barclays PLC boosted its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 74.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,286 shares of the insurance provider's stock after acquiring an additional 13,747 shares during the period. Barclays PLC's holdings in RLI were worth $5,321,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of RLI by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,752 shares of the insurance provider's stock valued at $77,759,000 after acquiring an additional 9,131 shares during the last quarter. New York Life Investment Management LLC purchased a new stake in RLI during the 4th quarter valued at $728,000. Raymond James Financial Inc. bought a new stake in RLI in the fourth quarter worth $17,854,000. Empowered Funds LLC purchased a new position in RLI during the fourth quarter worth $840,000. Finally, Callan Family Office LLC bought a new position in RLI during the fourth quarter valued at $1,199,000. Hedge funds and other institutional investors own 77.89% of the company's stock.

Insiders Place Their Bets

In other RLI news, Director Jordan W. Graham sold 1,500 shares of the business's 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 completion of the transaction, the director now directly owns 12,854 shares of the company's stock, valued at approximately $961,093.58. The trade was a 10.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $74.89, for a total transaction of $214,484.96. Following the completion of the transaction, the director now owns 23,312 shares of the company's stock, valued at approximately $1,745,835.68. This trade represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.16% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RLI shares. Jefferies Financial Group lowered RLI from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $95.00 to $61.00 in a research note on Monday, January 27th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price objective on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. StockNews.com lowered RLI from a "hold" rating to a "sell" rating in a research report on Monday. Finally, Compass Point downgraded RLI from a "strong-buy" rating to a "hold" rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $78.60.

RLI Stock Up 0.2 %

NYSE:RLI traded up $0.15 during trading hours on Tuesday, reaching $74.06. The company's stock had a trading volume of 490,729 shares, compared to its average volume of 361,176. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. The company has a market capitalization of $6.80 billion, a P/E ratio of 19.78 and a beta of 0.49. RLI Corp. has a 12 month low of $68.50 and a 12 month high of $91.15. The stock has a 50 day moving average price of $76.39 and a two-hundred day moving average price of $79.35.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million during the quarter, compared to analysts' expectations of $442.20 million. RLI had a return on equity of 16.63% and a net margin of 19.53%. The business's quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. Equities analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were paid a dividend of $0.15 per share. This is a positive change from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. RLI's dividend payout ratio is presently 19.74%.

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.