Maren Capital LLC Acquires 25,874 Shares of RLI Corp. (NYSE:RLI)

Maren Capital LLC grew its stake in RLI Corp. (NYSE:RLI - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 700,603 shares of the insurance provider's stock after purchasing an additional 25,874 shares during the quarter. RLI makes up approximately 8.8% of Maren Capital LLC's holdings, making the stock its 4th biggest holding. Maren Capital LLC owned about 0.76% of RLI worth $115,480,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RLI. Vanguard Group Inc. raised its position in shares of RLI by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,608,243 shares of the insurance provider's stock valued at $759,577,000 after acquiring an additional 41,884 shares in the last quarter. State Street Corp raised its holdings in shares of 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 purchasing an additional 58,167 shares during the period. Geode Capital Management LLC lifted its position in shares of RLI by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 1,024,518 shares of the insurance provider's stock worth $168,907,000 after buying an additional 116,088 shares during the last quarter. Invesco Ltd. grew its position in shares of RLI by 4.7% during the 4th quarter. Invesco Ltd. now owns 665,395 shares of the insurance provider's stock valued at $109,677,000 after buying an additional 29,704 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in RLI by 3.9% during the fourth quarter. Alliancebernstein L.P. now owns 490,725 shares of the insurance provider's stock worth $80,886,000 after acquiring an additional 18,199 shares during the period. Institutional investors own 77.89% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RLI shares. 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. Keefe, Bruyette & Woods dropped their target price on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday. Jefferies Financial Group lowered shares of RLI from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $95.00 to $61.00 in a research report on Monday, January 27th. JMP Securities reiterated a "market perform" rating on shares of RLI in a research report on Thursday, January 23rd. Finally, Compass Point decreased their target price on shares of RLI from $185.00 to $82.00 and set a "buy" rating for the company in a research report on Monday, January 27th. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $79.80.

RLI Price Performance

RLI traded up $0.09 on Friday, reaching $76.44. The company had a trading volume of 478,446 shares, compared to its average volume of 357,846. The company has a market capitalization of $7.01 billion, a P/E ratio of 20.41 and a beta of 0.49. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $76.23 and a 200-day moving average of $79.44. RLI Corp. has a one year low of $67.53 and a one year high of $91.15.

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 (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. As a group, equities research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 28th were issued a $0.15 dividend. This is a positive change from RLI's previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. RLI's dividend payout ratio is 16.00%.

Insider Buying and Selling

In other news, Director Jordan W. Graham sold 1,500 shares of the company's 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 completion of the sale, the director now directly owns 12,854 shares of the company's stock, valued at $961,093.58. This represents a 10.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of RLI stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $74.89, for a total value of $214,484.96. Following the completion of the transaction, the director now directly owns 23,312 shares in the company, valued at $1,745,835.68. This represents a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 11,200 shares of company stock valued at $805,774 over the last three months. Company insiders own 5.09% of the company's stock.

About RLI

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.