Vaughan David Investments LLC IL Has $25.01 Million Position in RLI Corp. (NYSE:RLI)

Vaughan David Investments LLC IL lowered its position in shares of RLI Corp. (NYSE:RLI - Free Report) by 4.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 151,713 shares of the insurance provider's stock after selling 7,087 shares during the period. Vaughan David Investments LLC IL owned 0.17% of RLI worth $25,007,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in RLI during the 4th quarter valued at about $404,000. ST. Nicholas Private Asset Management Inc. bought a new stake in shares of RLI during the fourth quarter valued at approximately $8,739,000. Handelsbanken Fonder AB boosted its position in shares of RLI by 5.9% during the fourth quarter. Handelsbanken Fonder AB now owns 10,730 shares of the insurance provider's stock worth $1,769,000 after buying an additional 600 shares during the period. Empower Advisory Group LLC grew its holdings in RLI by 2.0% in the 4th quarter. Empower Advisory Group LLC now owns 123,173 shares of the insurance provider's stock worth $20,303,000 after buying an additional 2,473 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in RLI by 147.2% in the 4th quarter. Sanctuary Advisors LLC now owns 14,917 shares of the insurance provider's stock worth $2,459,000 after buying an additional 8,883 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Price Performance

NYSE:RLI traded up $0.35 during mid-day trading on Friday, reaching $76.13. 822,545 shares of the stock were exchanged, compared to its average volume of 547,981. RLI Corp. has a 1-year low of $67.53 and a 1-year high of $91.14. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.99 billion, a PE ratio of 20.33 and a beta of 0.46. The business has a fifty day moving average price of $77.17 and a 200 day moving average price of $79.26.

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RLI (NYSE:RLI - Get Free Report) last released its 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%. Research analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

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

Insider Transactions at RLI

In other news, CEO Craig W. Kliethermes acquired 5,000 shares of RLI stock in a transaction on Friday, January 24th. The stock was bought at an average cost of $71.35 per share, with a total value of $356,750.00. Following the completion of the purchase, the chief executive officer now owns 139,190 shares of the company's stock, valued at $9,931,206.50. This represents a 3.73 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael J. Stone sold 400 shares of RLI stock in a transaction that occurred on 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 directly owns 429,622 shares in the company, valued at approximately $36,421,205.05. This trade represents a 0.09 % 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 three months. 5.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com raised RLI from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. JMP Securities restated a "market perform" rating on shares of RLI in a research note on Thursday, January 23rd. Royal Bank of Canada decreased their target price on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. Keefe, Bruyette & Woods lowered their target price 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. Finally, Jefferies Financial Group lowered shares of 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 note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.