Invesco Ltd. Has $109.68 Million Position in RLI Corp. (NYSE:RLI)

Invesco Ltd. lifted its stake in RLI Corp. (NYSE:RLI - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 665,395 shares of the insurance provider's stock after purchasing an additional 29,704 shares during the period. Invesco Ltd. owned about 0.73% of RLI worth $109,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc raised its holdings in shares of RLI by 53.8% during the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock worth $33,000 after purchasing an additional 71 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in RLI by 76.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider's stock worth $36,000 after acquiring an additional 100 shares during the period. SkyView Investment Advisors LLC lifted its holdings in RLI by 2.3% in the third quarter. SkyView Investment Advisors LLC now owns 4,545 shares of the insurance provider's stock worth $704,000 after acquiring an additional 103 shares during the last quarter. Brookstone Capital Management boosted its stake in RLI by 7.5% in the fourth quarter. Brookstone Capital Management now owns 1,827 shares of the insurance provider's stock valued at $301,000 after acquiring an additional 127 shares during the period. Finally, Everhart Financial Group Inc. grew its holdings in shares of RLI by 10.0% during the fourth quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider's stock valued at $269,000 after purchasing an additional 148 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

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RLI Stock Performance

NYSE:RLI traded down $0.23 during midday trading on Wednesday, reaching $77.40. The stock had a trading volume of 402,794 shares, compared to its average volume of 358,887. The firm's fifty day simple moving average is $76.23 and its 200-day simple moving average is $79.45. RLI Corp. has a 1-year low of $67.53 and a 1-year high of $91.15. The stock has a market capitalization of $7.10 billion, a P/E ratio of 20.67 and a beta of 0.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38.

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%. On average, equities research analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from RLI's previous quarterly dividend of $0.15. RLI's dividend payout ratio (DPR) is presently 16.00%.

Insiders Place Their Bets

In other news, CEO Craig W. Kliethermes purchased 5,000 shares of the business's stock in a transaction dated Friday, January 24th. The shares were bought at an average cost of $71.35 per share, for a total transaction of $356,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 139,190 shares in the company, valued at approximately $9,931,206.50. This trade represents a 3.73 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey D. Fick acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average price of $72.13 per share, with a total value of $144,260.00. Following the completion of the acquisition, the insider now owns 142,061 shares of the company's stock, valued at $10,246,859.93. This represents a 1.43 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 11,200 shares of company stock valued at $805,774. 5.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on RLI shares. JMP Securities restated a "market perform" rating on shares of RLI in a research report on Thursday, January 23rd. Compass Point decreased their price objective 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. 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 report on Monday, January 27th. Keefe, Bruyette & Woods lowered their price target on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, StockNews.com upgraded RLI from a "sell" rating to a "hold" rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.80.

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.