Global Alpha Capital Management Ltd. Has $37.86 Million Stock Holdings in RLI Corp. (NYSE:RLI)

Global Alpha Capital Management Ltd. lowered its position in shares of RLI Corp. (NYSE:RLI - Free Report) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,658 shares of the insurance provider's stock after selling 34,630 shares during the quarter. RLI comprises 2.7% of Global Alpha Capital Management Ltd.'s portfolio, making the stock its 13th largest position. Global Alpha Capital Management Ltd. owned approximately 0.25% of RLI worth $37,855,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. New York Life Investment Management LLC bought a new stake in shares of RLI during the 4th quarter valued at about $728,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of RLI by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,752 shares of the insurance provider's stock worth $77,759,000 after purchasing an additional 9,131 shares during the last quarter. Empowered Funds LLC acquired a new position in RLI during the 4th quarter valued at approximately $840,000. Sanctuary Advisors LLC grew its stake in RLI by 147.2% during the 4th quarter. Sanctuary Advisors LLC now owns 14,917 shares of the insurance provider's stock worth $2,459,000 after buying an additional 8,883 shares during the last quarter. Finally, KBC Group NV increased its position in RLI by 46.6% in the fourth quarter. KBC Group NV now owns 1,790 shares of the insurance provider's stock worth $295,000 after buying an additional 569 shares during the period. Institutional investors own 77.89% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, insider Jeffrey D. Fick purchased 2,000 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average price of $72.13 per share, for a total transaction 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Stone sold 400 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $84.78, for a total value of $33,910.00. Following the sale, the director now owns 429,622 shares in the company, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 11,200 shares of company stock worth $805,774. Corporate insiders own 5.09% of the company's stock.

RLI Price Performance

RLI traded down $0.49 during trading on Wednesday, reaching $73.96. The stock had a trading volume of 372,675 shares, compared to its average volume of 523,711. RLI Corp. has a 1-year low of $67.53 and a 1-year high of $91.14. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 19.75 and a beta of 0.39. The stock has a 50 day moving average of $76.01 and a two-hundred day moving average of $79.40. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI - Get Free Report) last released 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, equities analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from RLI's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a yield of 0.81%. RLI's dividend payout ratio is currently 16.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Compass Point reduced their price target on shares of RLI from $185.00 to $82.00 and set a "buy" rating for the company in a report on Monday, January 27th. Royal Bank of Canada reduced their target price on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a research note on Friday, January 24th. JMP Securities restated a "market perform" rating on shares of RLI in a research note on Thursday, January 23rd. StockNews.com upgraded RLI from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Finally, Jefferies Financial Group cut 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 report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $82.80.

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.