New York Life Investment Management LLC Takes Position in RLI Corp. (NYSE:RLI)

New York Life Investment Management LLC acquired a new position in shares of RLI Corp. (NYSE:RLI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,416 shares of the insurance provider's stock, valued at approximately $728,000.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in RLI in the 4th quarter valued at $31,000. Versant Capital Management Inc lifted its holdings in shares of RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock worth $33,000 after acquiring an additional 71 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of RLI by 76.9% during the 3rd 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. GAMMA Investing LLC lifted its holdings in shares of RLI by 31.8% during the 4th quarter. GAMMA Investing LLC now owns 1,035 shares of the insurance provider's stock worth $171,000 after acquiring an additional 250 shares during the period. Finally, KBC Group NV lifted its holdings in shares of RLI by 16.3% during the 3rd quarter. KBC Group NV now owns 1,221 shares of the insurance provider's stock worth $189,000 after acquiring an additional 171 shares during the period. 77.89% of the stock is owned by institutional investors.

Insider Buying and Selling at RLI

In other RLI news, Director Michael J. Stone sold 400 shares of RLI stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the transaction, the director now owns 429,622 shares of the company's stock, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey D. Fick acquired 2,000 shares of the stock in a transaction dated Friday, January 24th. The stock was acquired at an average price of $72.13 per share, for a total transaction of $144,260.00. Following the completion of the acquisition, the insider now directly owns 142,061 shares of the company's stock, valued at $10,246,859.93. The trade was a 1.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,200 shares of company stock valued at $805,774. 5.09% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

A number of equities analysts have recently commented on RLI shares. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Thursday, January 23rd. Royal Bank of Canada reduced their price objective on shares of 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 dropped 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. Jefferies Financial Group cut shares of RLI from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $95.00 to $61.00 in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of RLI from $100.50 to $100.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. One 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $82.80.

RLI Trading Up 0.4 %

Shares of NYSE RLI traded up $0.31 during mid-day trading on Friday, hitting $75.95. The company's stock had a trading volume of 403,799 shares, compared to its average volume of 534,677. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 20.28 and a beta of 0.39. 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 Corp. has a one year low of $67.53 and a one year high of $91.14. The company's fifty day simple moving average is $76.30 and its 200-day simple moving average is $79.34.

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 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%. On average, sell-side analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. This is a positive change from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is presently 16.00%.

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.