RLI Corp. (NYSE:RLI) Director Robert P. Restrepo, Jr. Sells 2,864 Shares

RLI Corp. (NYSE:RLI - Get Free Report) Director Robert P. Restrepo, Jr. sold 2,864 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $74.89, for a total value of $214,484.96. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

RLI Stock Down 0.8 %

NYSE:RLI traded down $0.61 on Tuesday, hitting $76.01. The stock had a trading volume of 288,885 shares, compared to its average volume of 323,467. The business's fifty day moving average is $75.50 and its 200 day moving average is $79.38. The company has a market cap of $6.98 billion, a PE ratio of 20.30 and a beta of 0.39. 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 Corp. has a 52 week low of $67.53 and a 52 week high of $91.15.

RLI (NYSE:RLI - Get Free Report) last posted its earnings results 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%. On average, equities research analysts expect that RLI Corp. will post 3.08 EPS for the current fiscal year.

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RLI Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.79%. 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. RLI's dividend payout ratio (DPR) is currently 16.00%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RLI. Keefe, Bruyette & Woods cut their target price on RLI from $100.50 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. JMP Securities restated a "market perform" rating on shares of RLI in a research report on Thursday, January 23rd. StockNews.com upgraded RLI from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Royal Bank of Canada cut their target price on RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Friday, January 24th. Finally, Compass Point cut their price target on RLI from $185.00 to $82.00 and set a "buy" rating on the stock in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, RLI presently has a consensus rating of "Hold" and an average target price of $82.80.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of RLI by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 4,608,243 shares of the insurance provider's stock valued at $759,577,000 after purchasing an additional 41,884 shares in the last quarter. State Street Corp lifted its holdings in RLI by 1.3% during the third quarter. State Street Corp now owns 4,393,250 shares of the insurance provider's stock worth $680,866,000 after acquiring an additional 58,167 shares during the period. Neuberger Berman Group LLC lifted its holdings in RLI by 1.5% during the fourth quarter. Neuberger Berman Group LLC now owns 1,331,526 shares of the insurance provider's stock worth $219,475,000 after acquiring an additional 19,695 shares during the period. Geode Capital Management LLC lifted its holdings in RLI by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider's stock worth $168,907,000 after acquiring an additional 116,088 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in RLI by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 941,185 shares of the insurance provider's stock worth $155,136,000 after acquiring an additional 7,609 shares during the period. Institutional investors own 77.89% of the company's stock.

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.