American Century Companies Inc. Has $2.55 Million Stake in RLI Corp. (NYSE:RLI)

American Century Companies Inc. decreased its position in shares of RLI Corp. (NYSE:RLI - Free Report) by 85.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,449 shares of the insurance provider's stock after selling 87,887 shares during the quarter. American Century Companies Inc.'s holdings in RLI were worth $2,546,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of RLI in the 4th quarter valued at approximately $31,000. Versant Capital Management Inc boosted its holdings in shares of RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock valued at $33,000 after buying an additional 71 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of RLI by 76.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider's stock worth $36,000 after acquiring an additional 100 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of RLI during the fourth quarter worth $56,000. Finally, EverSource Wealth Advisors LLC lifted its position in RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after acquiring an additional 159 shares in the last quarter. Institutional investors own 77.89% of the company's stock.

Insider Activity at RLI

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $74.89, for a total transaction of $214,484.96. Following the completion of the sale, the director now owns 23,312 shares in the company, valued at $1,745,835.68. The trade was a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey D. Fick bought 2,000 shares of the firm's 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 transaction, 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 acquired 11,200 shares of company stock worth $805,774. Company insiders own 5.09% of the company's stock.

Remove Ads

RLI Stock Up 0.1 %

Shares of NYSE:RLI traded up $0.09 during midday trading on Friday, hitting $76.44. The stock had a trading volume of 478,446 shares, compared to its average volume of 357,846. The company has a market cap of $7.01 billion, a P/E ratio of 20.41 and a beta of 0.49. RLI Corp. has a 12 month low of $67.53 and a 12 month high of $91.15. The business's 50-day simple moving average is $76.23 and its 200-day simple moving average is $79.44. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI - Get Free Report) last released 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 return on equity of 16.63% and a net margin of 19.53%. On average, sell-side analysts forecast that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, February 28th were paid a $0.15 dividend. This is a positive change from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.78%. RLI's dividend payout ratio is currently 16.00%.

Analysts Set New Price Targets

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

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.