RLI Corp. (NYSE:RLI) Director Buys $145,000.00 in Stock

RLI Corp. (NYSE:RLI - Get Free Report) Director David B. Duclos purchased 2,000 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of $72.50 per share, for a total transaction of $145,000.00. Following the purchase, the director now directly owns 7,215 shares in the company, valued at $523,087.50. This trade represents a 38.35 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

RLI Stock Performance

RLI traded up $1.10 on Monday, hitting $74.45. 368,717 shares of the company's stock were exchanged, compared to its average volume of 596,055. The firm has a market cap of $6.82 billion, a PE ratio of 19.84 and a beta of 0.47. RLI Corp. has a twelve month low of $67.53 and a twelve month high of $91.14. The stock has a fifty day moving average of $81.19 and a two-hundred day moving average of $78.99. 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 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%. On average, research analysts anticipate that RLI Corp. will post 3.09 earnings per share for the current fiscal year.

RLI Cuts Dividend

The business also recently announced a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were given a $2.145 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a yield of 0.7%. RLI's payout ratio is 15.49%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com downgraded RLI from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Oppenheimer initiated coverage on RLI in a research note on Wednesday, October 16th. They set a "market perform" rating for the company. Jefferies Financial Group downgraded RLI from a "buy" rating to an "underperform" rating and cut their target price for the stock from $95.00 to $61.00 in a research note on Monday, January 27th. Compass Point decreased their price objective on shares of RLI from $185.00 to $82.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Finally, Royal Bank of Canada dropped their price target on RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $82.80.

Institutional Investors Weigh In On RLI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB raised its holdings in RLI by 5.9% in the 4th quarter. Handelsbanken Fonder AB now owns 10,730 shares of the insurance provider's stock worth $1,769,000 after acquiring an additional 600 shares during the period. Empower Advisory Group LLC raised its holdings in RLI by 2.0% in the 4th quarter. Empower Advisory Group LLC now owns 123,173 shares of the insurance provider's stock worth $20,303,000 after acquiring an additional 2,473 shares during the period. Sanctuary Advisors LLC raised its holdings in RLI by 147.2% in the 4th quarter. Sanctuary Advisors LLC now owns 14,917 shares of the insurance provider's stock worth $2,459,000 after acquiring an additional 8,883 shares during the period. Allworth Financial LP raised its holdings in RLI by 378.2% in the 4th quarter. Allworth Financial LP now owns 2,616 shares of the insurance provider's stock worth $431,000 after acquiring an additional 2,069 shares during the period. Finally, Everhart Financial Group Inc. raised its holdings in RLI by 10.0% in the 4th quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider's stock worth $269,000 after acquiring an additional 148 shares during the period. Hedge funds and other institutional investors own 77.89% of the company's stock.

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.