Federated Hermes Inc. Has $17.15 Million Stock Position in RLI Corp. (NYSE:RLI)

Federated Hermes Inc. boosted its stake in RLI Corp. (NYSE:RLI - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,071 shares of the insurance provider's stock after acquiring an additional 4,411 shares during the quarter. Federated Hermes Inc. owned about 0.11% of RLI worth $17,154,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in RLI by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,752 shares of the insurance provider's stock worth $77,759,000 after buying an additional 9,131 shares during the period. New York Life Investment Management LLC acquired a new position in shares of RLI in the fourth quarter worth about $728,000. Raymond James Financial Inc. purchased a new position in RLI in the fourth quarter valued at about $17,854,000. Empowered Funds LLC acquired a new stake in RLI during the 4th quarter valued at approximately $840,000. Finally, Callan Family Office LLC purchased a new stake in RLI during the 4th quarter worth approximately $1,199,000. Institutional investors and hedge funds own 77.89% of the company's stock.

Analysts Set New Price Targets

RLI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada cut their target price on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Friday, January 24th. Compass Point reduced their price target on shares of RLI from $185.00 to $82.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a report on Thursday, January 23rd. Finally, StockNews.com raised RLI from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, RLI presently has an average rating of "Hold" and a consensus target price of $79.80.

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Insider Transactions at RLI

In other RLI news, Director Jordan W. Graham sold 1,500 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total transaction of $112,155.00. Following the sale, the director now directly owns 12,854 shares of the company's stock, valued at approximately $961,093.58. This represents a 10.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey D. Fick bought 2,000 shares of the business's stock in a transaction dated Friday, January 24th. The stock was purchased at an average price of $72.13 per share, with a total value of $144,260.00. Following the purchase, the insider now directly owns 142,061 shares of the company's stock, valued at $10,246,859.93. The trade was a 1.43 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 11,200 shares of company stock valued at $805,774. 5.09% of the stock is owned by corporate insiders.

RLI Stock Up 0.8 %

Shares of RLI stock traded up $0.66 during trading on Tuesday, hitting $78.42. 50,504 shares of the stock traded hands, compared to its average volume of 357,275. The company has a fifty day moving average price of $76.24 and a two-hundred day moving average price of $79.47. RLI Corp. has a twelve month low of $67.53 and a twelve month high of $91.15. The stock has a market cap of $7.20 billion, a P/E ratio of 20.95 and a beta of 0.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings results 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 net margin of 19.53% and a return on equity of 16.63%. Equities research analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were given a $0.15 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from RLI's previous quarterly dividend of $0.15. RLI's dividend payout ratio (DPR) is currently 16.00%.

RLI Company Profile

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.