8,400 Shares in RLI Corp. (NYSE:RLI) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of RLI Corp. (NYSE:RLI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,400 shares of the insurance provider's stock, valued at approximately $1,385,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC bought a new position in shares of RLI in the fourth quarter worth about $31,000. Versant Capital Management Inc boosted its position in RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock valued at $33,000 after buying an additional 71 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of 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 buying an additional 100 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of RLI during the fourth quarter worth $56,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after acquiring an additional 159 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Craig W. Kliethermes bought 5,000 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were bought at an average price of $71.35 per share, for a total transaction of $356,750.00. Following the transaction, the chief executive officer now directly owns 139,190 shares of the company's stock, valued at approximately $9,931,206.50. The trade was a 3.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $74.89, for a total transaction of $214,484.96. Following the completion of the sale, the director now owns 23,312 shares of the company's stock, valued at $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 acquired 11,200 shares of company stock valued at $805,774 in the last ninety days. 5.09% of the stock is owned by company insiders.

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Analyst Ratings Changes

RLI has been the subject of a number of recent research reports. Royal Bank of Canada lowered their target price on RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. Compass Point lowered their price objective on RLI from $185.00 to $82.00 and set a "buy" rating for the company in a research note on Monday, January 27th. StockNews.com upgraded shares of RLI from a "sell" rating to a "hold" rating in a report on Friday, February 21st. JMP Securities reissued a "market perform" rating on shares of RLI in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods dropped their price target on shares of RLI from $100.50 to $100.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, RLI currently has a consensus rating of "Hold" and a consensus target price of $82.80.

RLI Trading Up 0.5 %

NYSE:RLI traded up $0.43 on Tuesday, reaching $80.76. 383,943 shares of the stock traded hands, compared to its average volume of 346,724. 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 1-year low of $67.53 and a 1-year high of $91.15. The company's 50 day moving average is $75.68 and its 200-day moving average is $79.48. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 21.57 and a beta of 0.39.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a return on equity of 16.63% and a net margin of 19.53%. Equities research analysts anticipate that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 28th were given a $0.15 dividend. The ex-dividend date of this dividend was 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 dividend yield of 0.74%. RLI's dividend payout ratio (DPR) is 16.00%.

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.