RLI Corp. (NYSE:RLI) Shares Sold by Snyder Capital Management L P

Snyder Capital Management L P cut its stake in RLI Corp. (NYSE:RLI - Free Report) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 260,405 shares of the insurance provider's stock after selling 12,000 shares during the quarter. Snyder Capital Management L P owned about 0.28% of RLI worth $42,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in shares of RLI during the 4th quarter worth $31,000. Versant Capital Management Inc boosted its holdings in 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 period. SBI Securities Co. Ltd. purchased a new position in RLI during the 4th quarter valued at about $56,000. EverSource Wealth Advisors LLC boosted its holdings in RLI by 47.0% during 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 during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in RLI during the 4th quarter valued at about $120,000. 77.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RLI

In other RLI news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total transaction of $214,484.96. Following the transaction, the director now directly owns 23,312 shares of the company's stock, valued at approximately $1,745,835.68. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jordan W. Graham sold 1,500 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total transaction of $112,155.00. Following the transaction, the director now directly owns 12,854 shares in the company, valued at $961,093.58. The trade was a 10.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.16% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group cut RLI from a "buy" rating to an "underperform" rating and lowered their target price for the company from $95.00 to $61.00 in a report on Monday, January 27th. Royal Bank of Canada lowered their target price on RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. JMP Securities restated a "market perform" rating on shares of RLI in a report on Thursday. StockNews.com upgraded RLI from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Finally, Keefe, Bruyette & Woods reduced their price target on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, RLI currently has an average rating of "Hold" and a consensus price target of $78.60.

RLI Stock Up 1.3 %

Shares of NYSE:RLI traded up $0.92 during trading on Monday, hitting $73.89. 419,643 shares of the company were exchanged, compared to its average volume of 360,658. The firm's 50 day moving average price is $76.41 and its 200-day moving average price is $79.38. RLI Corp. has a 12-month low of $68.50 and a 12-month high of $91.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38. The stock has a market capitalization of $6.78 billion, a P/E ratio of 19.73 and a beta of 0.49.

RLI (NYSE:RLI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. RLI had a net margin of 19.53% and a return on equity of 16.63%. The company's revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm posted $0.95 EPS. On average, research analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. This is an increase from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 28th. RLI's dividend payout ratio (DPR) is 19.74%.

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.