Sei Investments Co. Buys 13,080 Shares of RLI Corp. (NYSE:RLI)

Sei Investments Co. increased its position in RLI Corp. (NYSE:RLI - Free Report) by 20.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,855 shares of the insurance provider's stock after buying an additional 13,080 shares during the quarter. Sei Investments Co. owned 0.08% of RLI worth $12,502,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RLI. Sciencast Management LP purchased a new position in shares of RLI in the fourth quarter valued at about $270,000. Whittier Trust Co. of Nevada Inc. increased its holdings in RLI by 5.1% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 47,414 shares of the insurance provider's stock valued at $7,815,000 after purchasing an additional 2,288 shares during the period. Whittier Trust Co. raised its position in RLI by 3.7% during the 4th quarter. Whittier Trust Co. now owns 90,816 shares of the insurance provider's stock valued at $14,969,000 after purchasing an additional 3,236 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in RLI by 5.3% in the 4th quarter. Teacher Retirement System of Texas now owns 52,759 shares of the insurance provider's stock worth $8,696,000 after buying an additional 2,666 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of RLI in the 4th quarter worth approximately $120,000. 77.89% of the stock is currently owned by institutional investors.

RLI Stock Up 0.5 %

NYSE:RLI traded up $0.43 during mid-day trading on Tuesday, hitting $80.76. 383,943 shares of the company's stock were exchanged, compared to its average volume of 346,724. The company has a market cap of $7.41 billion, a PE ratio of 21.57 and a beta of 0.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38. RLI Corp. has a one year low of $67.53 and a one year high of $91.15. The business has a fifty day moving average price of $75.68 and a 200 day moving average price of $79.48.

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RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings results 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%. Equities analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, February 28th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, February 28th. This is an increase from RLI's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 0.74%. RLI's dividend payout ratio (DPR) is presently 16.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RLI shares. Jefferies Financial Group downgraded RLI from a "buy" rating to an "underperform" rating and decreased their target price for the company from $95.00 to $61.00 in a report on Monday, January 27th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research report on Thursday, January 23rd. Royal Bank of Canada reduced their price target on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Friday, January 24th. StockNews.com upgraded shares of RLI from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Finally, Compass Point reduced their target price on RLI from $185.00 to $82.00 and set a "buy" rating on the stock in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, RLI has a consensus rating of "Hold" and an average target price of $82.80.

Insider Transactions at RLI

In other RLI news, CEO Craig W. Kliethermes purchased 5,000 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was purchased at an average price of $71.35 per share, for a total transaction of $356,750.00. Following the completion of the purchase, the chief executive officer now directly owns 139,190 shares of the company's stock, valued at $9,931,206.50. This trade represents a 3.73 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total value of $214,484.96. Following the sale, the director now directly owns 23,312 shares in the company, valued at $1,745,835.68. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 11,200 shares of company stock valued at $805,774 in the last quarter. 5.09% of the stock is owned by insiders.

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.