Van Berkom & Associates Inc. Has $86.75 Million Stake in RLI Corp. (NYSE:RLI)

Van Berkom & Associates Inc. trimmed its stake in RLI Corp. (NYSE:RLI - Free Report) by 6.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 526,279 shares of the insurance provider's stock after selling 36,199 shares during the quarter. RLI makes up about 2.6% of Van Berkom & Associates Inc.'s investment portfolio, making the stock its 13th largest holding. Van Berkom & Associates Inc. owned about 0.57% of RLI worth $86,747,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of RLI during the fourth quarter valued at about $31,000. Versant Capital Management Inc boosted its stake 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 purchasing an additional 71 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position 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 valued at $36,000 after purchasing an additional 100 shares during the period. Values First Advisors Inc. acquired a new position in shares of RLI during the 3rd quarter valued at $70,000. Finally, GAMMA Investing LLC raised its stake 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 worth $171,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Trading Up 1.0 %

Shares of RLI stock traded up $0.71 during trading hours on Tuesday, reaching $75.56. 182,523 shares of the stock traded hands, compared to its average volume of 545,078. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.92 billion, a PE ratio of 20.17 and a beta of 0.46. RLI Corp. has a 1-year low of $67.53 and a 1-year high of $91.14. The business has a fifty day moving average price of $77.60 and a 200 day moving average price of $79.30.

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RLI (NYSE:RLI - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) 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%. On average, equities research analysts forecast that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, February 28th will be issued a $0.15 dividend. This is an increase from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.79%. RLI's dividend payout ratio is currently 16.00%.

Analyst Ratings Changes

RLI has been the topic of a number of research analyst reports. StockNews.com raised RLI from a "sell" rating to a "hold" rating in a report on Friday. 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 note on Friday, January 10th. JMP Securities reissued a "market perform" rating on shares of RLI in a research note on Thursday, January 23rd. Jefferies Financial Group cut shares of 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 report on Monday, January 27th. Finally, Compass Point dropped their price target on RLI from $185.00 to $82.00 and set a "buy" rating on the stock in a report on Monday, January 27th. One equities research 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. Based on data from MarketBeat, RLI presently has an average rating of "Hold" and a consensus price target of $82.80.

Insider Transactions at RLI

In other news, Director Michael E. Angelina purchased 2,200 shares of the business's stock in a transaction dated Friday, January 24th. The stock was bought at an average cost of $72.62 per share, with a total value of $159,764.00. Following the purchase, the director now directly owns 23,514 shares of the company's stock, valued at approximately $1,707,586.68. This trade represents a 10.32 % 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 Michael J. Stone sold 400 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $84.78, for a total value of $33,910.00. Following the completion of the sale, the director now directly owns 429,622 shares of the company's stock, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 11,200 shares of company stock valued at $805,774 over the last three months. 5.09% of the stock is owned by corporate insiders.

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.