Van ECK Associates Corp Buys 9,320 Shares of RLI Corp. (NYSE:RLI)

Van ECK Associates Corp grew its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 34.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,613 shares of the insurance provider's stock after purchasing an additional 9,320 shares during the period. Van ECK Associates Corp's holdings in RLI were worth $6,035,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of RLI during the 4th quarter worth approximately $31,000. Versant Capital Management Inc grew its stake in RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock worth $33,000 after purchasing an additional 71 shares during the period. V Square Quantitative Management LLC purchased a new stake in RLI in the third quarter worth $32,000. Nomura Asset Management Co. Ltd. raised its holdings in RLI by 76.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider's stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in RLI during the third quarter valued at $70,000. 77.89% of the stock is owned by institutional investors.

Insider Buying and Selling

In other RLI news, Director Michael J. Stone sold 400 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $84.78, for a total value of $33,910.00. Following the transaction, the director now directly owns 429,622 shares of the company's stock, valued at approximately $36,421,205.05. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey D. Fick purchased 2,000 shares of RLI stock in a transaction dated Friday, January 24th. The shares were acquired at an average cost of $72.13 per share, with a total value of $144,260.00. Following the transaction, the insider now directly owns 142,061 shares in the company, valued at approximately $10,246,859.93. The trade was a 1.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,200 shares of company stock worth $805,774. 5.09% of the stock is owned by insiders.

RLI Stock Down 0.1 %

RLI stock traded down $0.09 during midday trading on Friday, hitting $74.59. The company's stock had a trading volume of 434,658 shares, compared to its average volume of 556,908. The firm's 50-day moving average is $78.02 and its 200-day moving average is $79.19. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. RLI Corp. has a 12 month low of $67.53 and a 12 month high of $91.14. The company has a market cap of $6.84 billion, a PE ratio of 19.92 and a beta of 0.46.

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 the consensus estimate of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. On average, equities research analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be given a dividend of $0.15 per share. This is an increase from RLI's previous quarterly dividend of $0.15. The ex-dividend date is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.80%. RLI's dividend payout ratio is 15.49%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. 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. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, January 23rd. StockNews.com cut RLI from a "hold" rating to a "sell" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods reduced their price objective on RLI from $100.50 to $100.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Finally, Jefferies Financial Group cut RLI from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $95.00 to $61.00 in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, RLI has an average rating of "Hold" and an average 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.