Vanguard Group Inc. Has $759.58 Million Position in RLI Corp. (NYSE:RLI)

Vanguard Group Inc. raised its position in shares of RLI Corp. (NYSE:RLI - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,608,243 shares of the insurance provider's stock after buying an additional 41,884 shares during the period. Vanguard Group Inc. owned about 5.03% of RLI worth $759,577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in RLI during the 4th quarter worth about $31,000. Versant Capital Management Inc grew its stake in shares of RLI by 53.8% during the fourth 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 during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of RLI by 76.9% in the third 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of RLI during the fourth quarter worth $56,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after acquiring an additional 159 shares during the period. Institutional investors own 77.89% of the company's stock.

Insider Buying and Selling at RLI

In related news, insider Jeffrey D. Fick acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average cost of $72.13 per share, for a total transaction of $144,260.00. Following the completion of the acquisition, the insider now directly owns 142,061 shares in the company, valued at approximately $10,246,859.93. The trade was a 1.43 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Angelina bought 2,200 shares of RLI stock in a transaction that occurred on 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 completion of the purchase, the director now owns 23,514 shares in the company, valued at approximately $1,707,586.68. This trade represents a 10.32 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,200 shares of company stock valued at $805,774. 5.09% of the stock is currently owned by corporate insiders.

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RLI Trading Up 0.5 %

Shares of NYSE RLI traded up $0.43 during midday trading on Tuesday, reaching $80.76. 383,943 shares of the stock were exchanged, compared to its average volume of 346,724. RLI Corp. has a 12 month low of $67.53 and a 12 month high of $91.15. The company has a market capitalization of $7.41 billion, a price-to-earnings 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. The business has a 50-day simple moving average of $75.68 and a two-hundred day simple moving average of $79.48.

RLI (NYSE:RLI - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities research analysts expect that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on RLI shares. StockNews.com raised RLI from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Compass Point dropped their price target on shares of RLI from $185.00 to $82.00 and set a "buy" rating for the company in a research note on Monday, January 27th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their target price on shares of RLI from $100.50 to $100.00 and set an "outperform" rating for the company in a research report on Friday, January 10th. Finally, Jefferies Financial Group downgraded RLI from a "buy" rating to an "underperform" rating and cut their price target for the company from $95.00 to $61.00 in a research note on Monday, January 27th. One investment 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $82.80.

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.