RLI Corp. (NYSE:RLI) Director Jordan W. Graham Sells 1,500 Shares

RLI Corp. (NYSE:RLI - Get Free Report) Director Jordan W. Graham sold 1,500 shares of the firm'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 sale, the director now owns 12,854 shares in the company, valued at $961,093.58. This trade represents a 10.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

RLI Stock Up 1.8 %

Shares of NYSE:RLI traded up $1.34 during midday trading on Friday, hitting $75.74. The stock had a trading volume of 281,447 shares, compared to its average volume of 323,789. RLI Corp. has a 12 month low of $67.53 and a 12 month high of $91.15. 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 business's 50-day simple moving average is $75.58 and its 200-day simple moving average is $79.38. The company has a market cap of $6.95 billion, a P/E ratio of 20.22 and a beta of 0.39.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing analysts' consensus estimates 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 forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

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RLI Increases Dividend

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

Hedge Funds Weigh In On RLI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parr Mcknight Wealth Management Group LLC bought a new position in RLI during the fourth quarter worth $1,175,000. Alpine Global Management LLC acquired a new stake in shares of RLI during the fourth quarter worth $524,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of RLI by 15.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,118 shares of the insurance provider's stock worth $29,854,000 after buying an additional 24,536 shares in the last quarter. Wolverine Trading LLC acquired a new stake in shares of RLI during the fourth quarter worth $290,000. Finally, Tidal Investments LLC acquired a new stake in shares of RLI during the fourth quarter worth $210,000. 77.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RLI has been the subject of several research reports. Jefferies Financial Group cut shares of RLI from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $95.00 to $61.00 in a research note on Monday, January 27th. StockNews.com raised shares of RLI from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods decreased 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. Royal Bank of Canada decreased their price target on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a research note on Friday, January 24th. Finally, Compass Point decreased their price target on shares of RLI from $185.00 to $82.00 and set a "buy" rating for the company in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $82.80.

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.