RLI Corp. (NYSE:RLI) Sees Significant Growth in Short Interest

RLI Corp. (NYSE:RLI - Get Free Report) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 1,020,000 shares, a growth of 114.0% from the December 31st total of 476,700 shares. Based on an average trading volume of 408,300 shares, the days-to-cover ratio is presently 2.5 days.

Insider Transactions at RLI

In related news, CEO Craig W. Kliethermes acquired 5,000 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average price of $71.35 per share, for a total transaction of $356,750.00. Following the transaction, the chief executive officer now directly owns 139,190 shares of the company's stock, valued at approximately $9,931,206.50. This trade represents a 3.73 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael J. Stone sold 400 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total transaction of $33,910.00. Following the sale, the director now owns 429,622 shares of the company's stock, valued at $36,421,205.05. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 11,200 shares of company stock valued at $805,774 in the last three months. 4.91% of the stock is owned by corporate insiders.

Institutional Trading of RLI

A number of institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new stake in RLI in the 4th quarter valued at about $404,000. ST. Nicholas Private Asset Management Inc. bought a new stake in RLI in the 4th quarter valued at about $8,739,000. Handelsbanken Fonder AB boosted its holdings in RLI by 5.9% in the 4th quarter. Handelsbanken Fonder AB now owns 10,730 shares of the insurance provider's stock valued at $1,769,000 after purchasing an additional 600 shares during the period. Empower Advisory Group LLC boosted its holdings in RLI by 2.0% in the 4th quarter. Empower Advisory Group LLC now owns 123,173 shares of the insurance provider's stock valued at $20,303,000 after purchasing an additional 2,473 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of RLI by 147.2% in the 4th quarter. Sanctuary Advisors LLC now owns 14,917 shares of the insurance provider's stock valued at $2,459,000 after buying an additional 8,883 shares in the last quarter. Institutional investors own 77.89% of the company's stock.

RLI Stock Performance

Shares of RLI stock traded up $1.01 on Tuesday, reaching $75.52. The stock had a trading volume of 399,815 shares, compared to its average volume of 599,392. The firm's 50-day moving average is $81.19 and its two-hundred day moving average is $78.99. 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 firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 20.20 and a beta of 0.47. RLI has a 12 month low of $67.53 and a 12 month high of $91.14.

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 (EPS) 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, research analysts expect that RLI will post 3.09 EPS for the current fiscal year.

RLI Cuts Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on RLI shares. Keefe, Bruyette & Woods lowered their price objective 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. Compass Point reduced their target price 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. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, January 23rd. Wolfe Research assumed coverage on shares of RLI in a research note on Wednesday, October 9th. They issued an "outperform" rating and a $91.00 target price for the company. Finally, Oppenheimer assumed coverage on shares of RLI in a research note on Wednesday, October 16th. They issued a "market perform" rating for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average 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.