Short Interest in RLI Corp. (NYSE:RLI) Decreases By 15.1%

RLI Corp. (NYSE:RLI - Get Free Report) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 418,100 shares, a decrease of 15.1% from the November 30th total of 492,700 shares. Based on an average trading volume of 166,700 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.0% of the shares of the company are sold short.

RLI Stock Down 0.9 %

NYSE:RLI traded down $1.43 during trading hours on Friday, reaching $165.89. The company had a trading volume of 77,281 shares, compared to its average volume of 156,828. The stock has a 50-day moving average of $168.58 and a two-hundred day moving average of $155.58. RLI has a one year low of $132.01 and a one year high of $182.29. The firm has a market capitalization of $7.60 billion, a PE ratio of 18.23 and a beta of 0.46.

Shares of RLI are going to split on the morning of Thursday, January 16th. The 2-1 split was announced on Thursday, November 7th. The newly created shares will be issued to shareholders after the closing bell on Wednesday, January 15th.

RLI (NYSE:RLI - Get Free Report) last announced its earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.33. The business had revenue of $470.00 million during the quarter, compared to analysts' expectations of $491.54 million. RLI had a net margin of 23.77% and a return on equity of 19.03%. The firm's revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. As a group, sell-side analysts expect that RLI will post 5.85 earnings per share for the current year.

RLI Increases Dividend

The firm also recently announced a None dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were issued a $4.29 dividend. This is an increase from RLI's previous None dividend of $2.25. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, November 29th. RLI's payout ratio is presently 12.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RLI shares. Royal Bank of Canada boosted their price target on RLI from $162.00 to $165.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 23rd. Oppenheimer began coverage on RLI in a research report on Wednesday, October 16th. They set a "market perform" rating on the stock. Wolfe Research started coverage on RLI in a research note on Wednesday, October 9th. They issued an "outperform" rating and a $182.00 target price for the company. Jefferies Financial Group lifted their price target on shares of RLI from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Compass Point increased their price objective on shares of RLI from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, RLI presently has a consensus rating of "Moderate Buy" and an average price target of $177.40.

Insider Activity

In other news, Director Michael J. Stone sold 200 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $169.55, for a total transaction of $33,910.00. Following the transaction, the director now owns 214,811 shares in the company, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On RLI

A number of large investors have recently bought and sold shares of the business. Retirement Systems of Alabama lifted its position in RLI by 3.9% during the 3rd quarter. Retirement Systems of Alabama now owns 115,569 shares of the insurance provider's stock worth $17,911,000 after buying an additional 4,322 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of RLI in the third quarter worth about $1,193,000. Sanctuary Advisors LLC lifted its position in shares of RLI by 12.9% during the third quarter. Sanctuary Advisors LLC now owns 6,034 shares of the insurance provider's stock worth $935,000 after purchasing an additional 691 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in shares of RLI by 2.3% during the third quarter. SkyView Investment Advisors LLC now owns 4,545 shares of the insurance provider's stock valued at $704,000 after purchasing an additional 103 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in shares of RLI by 4.4% in the third quarter. Coldstream Capital Management Inc. now owns 13,649 shares of the insurance provider's stock valued at $2,116,000 after purchasing an additional 571 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

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.