Victory Capital Management Inc. Has $21.05 Million Holdings in RLI Corp. (NYSE:RLI)

Victory Capital Management Inc. trimmed its holdings in RLI Corp. (NYSE:RLI - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,723 shares of the insurance provider's stock after selling 5,879 shares during the period. Victory Capital Management Inc. owned 0.14% of RLI worth $21,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its holdings in RLI by 1.3% during the 3rd quarter. State Street Corp now owns 4,393,250 shares of the insurance provider's stock valued at $680,866,000 after purchasing an additional 58,167 shares during the last quarter. Geode Capital Management LLC raised its position in shares of RLI by 5.9% in the third quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider's stock valued at $140,817,000 after purchasing an additional 50,654 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of RLI by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 813,719 shares of the insurance provider's stock worth $126,110,000 after buying an additional 4,330 shares during the last quarter. Port Capital LLC boosted its holdings in shares of RLI by 0.4% during the 3rd quarter. Port Capital LLC now owns 759,988 shares of the insurance provider's stock worth $117,783,000 after buying an additional 3,200 shares during the period. Finally, Maren Capital LLC boosted its holdings in shares of RLI by 4.3% during the 3rd quarter. Maren Capital LLC now owns 674,729 shares of the insurance provider's stock worth $104,570,000 after buying an additional 27,940 shares during the period. 77.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on RLI. Compass Point cut their price objective on shares of RLI from $185.00 to $82.00 and set a "buy" rating for the company in a research report on Monday, January 27th. Keefe, Bruyette & Woods dropped their price target on RLI from $100.50 to $100.00 and set an "outperform" rating for the company in a report on Friday, January 10th. Royal Bank of Canada decreased their price objective on RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Jefferies Financial Group downgraded RLI from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $95.00 to $61.00 in a report on Monday, January 27th. Finally, JMP Securities reissued a "market perform" rating on shares of RLI in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $82.80.

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RLI Price Performance

RLI stock opened at $74.51 on Wednesday. The company's 50-day moving average price is $76.01 and its two-hundred day moving average price is $79.40. The firm has a market cap of $6.84 billion, a P/E ratio of 19.90 and a beta of 0.39. The company has a quick ratio of 0.38, a current ratio of 0.34 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 $91.14.

RLI (NYSE:RLI - Get Free Report) last announced its quarterly earnings data 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%. On average, analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be paid a $0.15 dividend. The ex-dividend date is Friday, February 28th. This is a positive change from RLI's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a yield of 0.81%. RLI's dividend payout ratio (DPR) is 16.00%.

Insider Buying and Selling at RLI

In other news, Director David B. Duclos acquired 2,000 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of $72.50 per share, with a total value of $145,000.00. Following the acquisition, the director now directly owns 7,215 shares in the company, valued at $523,087.50. The trade was a 38.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Stone sold 400 shares of the company's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $84.78, for a total value of $33,910.00. Following the completion of the transaction, 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 have acquired a total of 11,200 shares of company stock worth $805,774 over the last 90 days. Insiders own 5.09% of the company's stock.

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.

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