RLI Corp. (NYSE:RLI) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in RLI Corp. (NYSE:RLI - Free Report) by 9.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,894 shares of the insurance provider's stock after selling 79,825 shares during the quarter. Thrivent Financial for Lutherans owned about 0.80% of RLI worth $121,142,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of RLI in the 4th quarter worth $31,000. Versant Capital Management Inc raised its stake in 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. raised its stake in RLI by 76.9% in the 3rd 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 during the last quarter. SBI Securities Co. Ltd. purchased a new position in RLI in the 4th quarter worth $56,000. Finally, EverSource Wealth Advisors LLC raised its stake in RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock worth $82,000 after acquiring an additional 159 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Stock Performance

Shares of NYSE RLI traded up $0.18 during trading on Friday, reaching $76.31. 961,936 shares of the company traded hands, compared to its average volume of 327,574. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. RLI Corp. has a 12-month low of $67.53 and a 12-month high of $91.15. The firm's fifty day simple moving average is $75.46 and its 200 day simple moving average is $79.32. The stock has a market cap of $7.00 billion, a P/E ratio of 20.38 and a beta of 0.39.

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RLI (NYSE:RLI - Get Free Report) last announced 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 net margin of 19.53% and a return on equity of 16.63%. As a group, research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is currently 16.00%.

Insider Activity at RLI

In related news, Director Jordan W. Graham sold 1,500 shares of RLI stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total value of $112,155.00. Following the sale, the director now directly owns 12,854 shares in the company, valued at approximately $961,093.58. The trade was a 10.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey D. Fick acquired 2,000 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average price of $72.13 per share, for a total transaction of $144,260.00. Following the completion of the acquisition, the insider now owns 142,061 shares in the company, 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. Insiders acquired a total of 11,200 shares of company stock worth $805,774 in the last 90 days. Corporate insiders own 5.09% of the company's stock.

Analyst Upgrades and Downgrades

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