Sanctuary Advisors LLC Acquires 8,883 Shares of RLI Corp. (NYSE:RLI)

Sanctuary Advisors LLC raised its holdings in shares of RLI Corp. (NYSE:RLI - Free Report) by 147.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,917 shares of the insurance provider's stock after acquiring an additional 8,883 shares during the quarter. Sanctuary Advisors LLC's holdings in RLI were worth $2,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RLI. Golden State Wealth Management LLC bought a new position in RLI during the 4th quarter worth about $31,000. Versant Capital Management Inc increased its stake in shares of RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider's stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of RLI by 76.9% during the 3rd 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 during the period. Values First Advisors Inc. purchased a new stake in RLI during the third quarter worth about $70,000. Finally, GAMMA Investing LLC increased its holdings in shares of RLI by 31.8% in the 4th quarter. GAMMA Investing LLC now owns 1,035 shares of the insurance provider's stock valued at $171,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 77.89% of the company's stock.

Insider Transactions at RLI

In other RLI news, Director Michael J. Stone sold 400 shares of RLI stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $84.78, for a total transaction of $33,910.00. Following the completion of the transaction, the director now owns 429,622 shares of the company's stock, valued at $36,421,205.05. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David B. Duclos purchased 2,000 shares of the stock in a transaction dated Wednesday, January 29th. The stock was purchased at an average cost of $72.50 per share, for a total transaction of $145,000.00. Following the completion of the acquisition, the director now owns 7,215 shares of the company's stock, valued at approximately $523,087.50. This represents a 38.35 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 11,200 shares of company stock valued at $805,774 over the last three months. Corporate insiders own 5.09% of the company's stock.

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RLI Stock Down 1.8 %

RLI stock traded down $1.35 during midday trading on Wednesday, hitting $74.59. The company's stock had a trading volume of 83,044 shares, compared to its average volume of 538,879. The company's fifty day moving average price is $77.45 and its 200 day moving average price is $79.32. RLI Corp. has a twelve month low of $67.53 and a twelve month high of $91.14. 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 $6.84 billion, a P/E ratio of 19.91 and a beta of 0.46.

RLI (NYSE:RLI - Get Free Report) last posted 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 return on equity of 16.63% and a net margin of 19.53%. As a group, equities research analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.15 per share. This is a boost from RLI's previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, February 28th. RLI's dividend payout ratio (DPR) is currently 16.00%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of RLI from $100.50 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. JMP Securities reiterated a "market perform" rating on shares of RLI in a report on Thursday, January 23rd. StockNews.com upgraded shares of RLI from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Compass Point dropped their target price on shares of RLI from $185.00 to $82.00 and set a "buy" rating on the stock in a report on Monday, January 27th. Finally, Jefferies Financial Group lowered RLI from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $95.00 to $61.00 in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $82.80.

RLI 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.