LPL Financial LLC Grows Stake in RLI Corp. (NYSE:RLI)

LPL Financial LLC grew its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 15.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,926 shares of the insurance provider's stock after buying an additional 5,213 shares during the quarter. LPL Financial LLC's holdings in RLI were worth $6,251,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new stake in RLI during the 4th quarter valued at $31,000. Versant Capital Management Inc boosted 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. grew its stake in shares of RLI by 76.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider's stock worth $36,000 after purchasing an additional 100 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in RLI during the 4th quarter valued at about $56,000. Finally, EverSource Wealth Advisors LLC raised its position in RLI by 47.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after purchasing an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company's stock.

Insider Activity at RLI

In other RLI news, Director Jordan W. Graham sold 1,500 shares of the stock in a transaction 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 sale, the director now directly owns 12,854 shares in the company, valued at approximately $961,093.58. This trade represents a 10.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Craig W. Kliethermes bought 5,000 shares of RLI stock in a transaction on Friday, January 24th. The stock was acquired at an average cost of $71.35 per share, with a total value of $356,750.00. Following the acquisition, the chief executive officer now owns 139,190 shares in the company, valued at approximately $9,931,206.50. This represents a 3.73 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 11,200 shares of company stock valued at $805,774. 5.09% of the stock is owned by insiders.

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Analysts Set New Price Targets

Several equities analysts have recently issued reports on RLI shares. StockNews.com raised RLI from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Jefferies Financial Group lowered shares of RLI from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $95.00 to $61.00 in a report on Monday, January 27th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price target on shares of RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Compass Point cut their price objective on RLI from $185.00 to $82.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, RLI has an average rating of "Hold" and an average price target of $79.80.

RLI Stock Up 0.1 %

NYSE:RLI traded up $0.09 during mid-day trading on Friday, hitting $76.44. 478,446 shares of the company's stock were exchanged, compared to its average volume of 357,846. RLI Corp. has a one year low of $67.53 and a one year high of $91.15. The business has a fifty day moving average price of $76.23 and a 200 day moving average price of $79.44. The company has a market cap of $7.01 billion, a PE ratio of 20.41 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 posted its quarterly earnings results 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 analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were paid a $0.15 dividend. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.78%. RLI's payout ratio is presently 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.