RLI Corp. (NYSE:RLI) Insider Acquires $144,260.00 in Stock

RLI Corp. (NYSE:RLI - Get Free Report) insider Jeffrey D. Fick bought 2,000 shares of the stock in a transaction dated Friday, January 24th. The stock was purchased at an average cost of $72.13 per share, for a total transaction of $144,260.00. Following the acquisition, the insider now owns 142,061 shares of the company's stock, valued at approximately $10,246,859.93. This represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RLI Price Performance

RLI stock traded up $0.04 during mid-day trading on Monday, hitting $72.52. 693,792 shares of the company were exchanged, compared to its average volume of 610,321. RLI Corp. has a 12-month low of $67.04 and a 12-month high of $91.14. The company has a market capitalization of $6.65 billion, a P/E ratio of 19.36 and a beta of 0.47. The business's 50 day simple moving average is $82.71 and its two-hundred day simple moving average is $78.91.

RLI (NYSE:RLI - Get Free Report) last posted 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 16.38% and a net margin of 19.53%. Equities research analysts predict that RLI Corp. will post 3.13 earnings per share for the current year.

RLI Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. grew its position in shares of RLI by 0.8% in the third quarter. Brown Brothers Harriman & Co. now owns 7,879 shares of the insurance provider's stock valued at $1,221,000 after purchasing an additional 66 shares during the period. Klein Pavlis & Peasley Financial Inc. grew its holdings in RLI by 1.2% in the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider's stock valued at $892,000 after buying an additional 68 shares during the period. Versant Capital Management Inc increased its stake 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 valued at $33,000 after acquiring an additional 71 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of RLI by 45.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider's stock worth $37,000 after acquiring an additional 77 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of RLI by 5.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider's stock worth $230,000 after acquiring an additional 89 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RLI shares. Keefe, Bruyette & Woods lowered their price objective on RLI from $100.50 to $100.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Wolfe Research initiated coverage on RLI in a report on Wednesday, October 9th. They set an "outperform" rating and a $91.00 price objective on the stock. Compass Point reduced their target price on RLI from $185.00 to $82.00 and set a "buy" rating for the company in a report on Monday. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday. Finally, Oppenheimer began coverage on shares of RLI in a report on Wednesday, October 16th. They issued a "market perform" rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.

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