RLI Corp. (NYSE:RLI) Director Michael E. Angelina Buys 2,200 Shares

RLI Corp. (NYSE:RLI - Get Free Report) Director Michael E. Angelina purchased 2,200 shares of the business's stock in a transaction dated Friday, January 24th. The shares were purchased at an average price of $72.62 per share, for a total transaction of $159,764.00. Following the acquisition, the director now directly owns 23,514 shares of the company's stock, valued at $1,707,586.68. This trade represents a 10.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

RLI Stock Up 0.1 %

Shares of RLI traded up $0.04 during midday trading on Monday, reaching $72.52. 693,792 shares of the stock were exchanged, compared to its average volume of 610,321. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 19.36 and a beta of 0.47. RLI Corp. has a 12-month low of $67.04 and a 12-month high of $91.14. The firm has a 50 day simple moving average of $82.71 and a 200-day simple moving average of $78.91.

RLI (NYSE:RLI - Get Free Report) last issued 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 net margin of 19.53% and a return on equity of 16.38%. Research analysts expect that RLI Corp. will post 3.13 earnings per share for the current fiscal year.

RLI Cuts Dividend

The firm also recently disclosed a None dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were issued a $2.145 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, November 29th. RLI's dividend payout ratio is presently 15.49%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Oppenheimer initiated coverage on shares of RLI in a research note on Wednesday, October 16th. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods dropped their price target on RLI from $100.50 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada decreased their price objective on RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a research report on Friday. JMP Securities reiterated a "market perform" rating on shares of RLI in a report on Thursday. Finally, 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 report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $82.80.

Hedge Funds Weigh In On RLI

Several hedge funds have recently bought and sold shares of RLI. UMB Bank n.a. grew its holdings in RLI by 620.0% in the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider's stock valued at $28,000 after buying an additional 155 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of RLI in the third quarter worth $32,000. Versant Capital Management Inc increased its position in 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 acquiring an additional 71 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in RLI by 76.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider's stock valued at $36,000 after acquiring an additional 100 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in RLI by 45.6% in the second quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider's stock worth $37,000 after purchasing an additional 77 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

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.

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