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

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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.

Check Out Our Latest Research Report on RLI

About RLI

(Get Free Report)

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.

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