Dynamic Technology Lab Private Ltd Invests $704,000 in RLI Corp. (NYSE:RLI)

Dynamic Technology Lab Private Ltd bought a new position in RLI Corp. (NYSE:RLI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,270 shares of the insurance provider's stock, valued at approximately $704,000.

A number of other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake 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 worth $77,759,000 after acquiring an additional 9,131 shares in the last quarter. New York Life Investment Management LLC bought a new stake in RLI during the fourth quarter worth approximately $728,000. Raymond James Financial Inc. bought a new stake in RLI during the fourth quarter worth approximately $17,854,000. Empowered Funds LLC acquired a new position in RLI during the fourth quarter valued at approximately $840,000. Finally, Callan Family Office LLC bought a new position in shares of RLI in the fourth quarter valued at approximately $1,199,000. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Stock Performance

RLI stock traded up $0.09 during trading on Friday, reaching $76.44. 478,446 shares of the stock were exchanged, compared to its average volume of 358,195. The company has a market capitalization of $7.01 billion, a P/E ratio of 20.41 and a beta of 0.49. 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 Corp. has a twelve month low of $67.53 and a twelve month high of $91.15. The stock has a 50 day simple moving average of $76.23 and a 200-day simple moving average of $79.46.

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

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.78%. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 28th. RLI's payout ratio is currently 16.00%.

Wall Street Analyst Weigh In

RLI has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of RLI from a "buy" rating to an "underperform" rating and lowered their target price for the company from $95.00 to $61.00 in a research note on Monday, January 27th. StockNews.com raised RLI from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Keefe, Bruyette & Woods cut their price objective on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday. Compass Point lowered their target price on RLI from $185.00 to $82.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Finally, JMP Securities reiterated a "market perform" rating on shares of RLI in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, RLI currently has an average rating of "Hold" and a consensus target price of $79.80.

Insiders Place Their Bets

In other news, Director Jordan W. Graham sold 1,500 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 23,312 shares in the company, valued at approximately $1,745,835.68. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 11,200 shares of company stock valued at $805,774 in the last 90 days. 5.09% of the stock is currently owned by insiders.

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.