RLI Corp. (NYSE:RLI) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC trimmed its position in RLI Corp. (NYSE:RLI - Free Report) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,409,181 shares of the insurance provider's stock after selling 28,390 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 2.63% of RLI worth $397,105,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RLI. MetLife Investment Management LLC increased its stake in shares of RLI by 9.2% in the fourth quarter. MetLife Investment Management LLC now owns 23,611 shares of the insurance provider's stock worth $3,892,000 after purchasing an additional 1,984 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in RLI by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 941,185 shares of the insurance provider's stock worth $155,136,000 after buying an additional 7,609 shares during the period. Alpha DNA Investment Management LLC increased its stake in RLI by 7.8% in the 4th quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider's stock worth $432,000 after buying an additional 189 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in RLI during the fourth quarter valued at about $2,423,000. Finally, Marshall Wace LLP raised its holdings in RLI by 773.8% during the fourth quarter. Marshall Wace LLP now owns 18,716 shares of the insurance provider's stock valued at $3,085,000 after acquiring an additional 16,574 shares during the period. Institutional investors own 77.89% of the company's stock.

RLI Trading Down 2.7 %

NYSE:RLI traded down $2.04 during mid-day trading on Friday, hitting $73.19. 265,140 shares of the stock traded hands, compared to its average volume of 358,690. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 19.54 and a beta of 0.49. RLI Corp. has a 52 week low of $68.50 and a 52 week high of $91.15. The firm's 50 day moving average is $76.45 and its two-hundred day moving average is $79.39.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. RLI had a return on equity of 16.63% and a net margin of 19.53%. The firm had revenue of $36.73 million during the quarter, compared to analyst estimates of $442.20 million. On average, equities research analysts predict that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.82%. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 28th. RLI's dividend payout ratio is currently 16.00%.

Insider Activity

In other RLI news, Director David B. Duclos acquired 2,000 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average cost of $72.50 per share, for a total transaction of $145,000.00. Following the completion of the purchase, the director now owns 7,215 shares in the company, valued at approximately $523,087.50. This trade represents a 38.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jordan W. Graham sold 1,500 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 12,854 shares of the company's stock, valued at $961,093.58. This trade represents a 10.45 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.16% of the company's stock.

Analysts Set New Price Targets

RLI has been the subject of several research analyst reports. Compass Point reiterated a "neutral" rating and set a $76.00 target price (down previously from $82.00) on shares of RLI in a research report on Thursday. Jefferies Financial Group cut shares of RLI from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $95.00 to $61.00 in a research report on Monday, January 27th. Keefe, Bruyette & Woods lowered their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada reduced their price target on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Finally, JMP Securities reiterated a "market perform" rating on shares of RLI in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $78.60.

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.