29,010 Shares in RLI Corp. (NYSE:RLI) Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC purchased a new stake in RLI Corp. (NYSE:RLI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 29,010 shares of the insurance provider's stock, valued at approximately $4,782,000.

Other institutional investors have also recently made changes to their positions in the company. Donaldson Capital Management LLC grew its stake in shares of RLI by 8.8% in the fourth quarter. Donaldson Capital Management LLC now owns 24,361 shares of the insurance provider's stock valued at $4,015,000 after buying an additional 1,978 shares in the last quarter. Independent Advisor Alliance grew its position in shares of RLI by 5.3% in the 4th quarter. Independent Advisor Alliance now owns 17,871 shares of the insurance provider's stock valued at $2,946,000 after acquiring an additional 892 shares during the period. Moran Wealth Management LLC increased its stake in shares of RLI by 3.1% during the 4th quarter. Moran Wealth Management LLC now owns 62,899 shares of the insurance provider's stock worth $10,368,000 after purchasing an additional 1,902 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of RLI by 17.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,114 shares of the insurance provider's stock valued at $1,832,000 after purchasing an additional 1,629 shares during the period. Finally, Callan Family Office LLC acquired a new stake in RLI in the 4th quarter valued at about $1,199,000. Institutional investors and hedge funds own 77.89% of the company's stock.

RLI Stock Performance

Shares of RLI traded up $0.98 during midday trading on Monday, reaching $76.67. 286,052 shares of the stock were exchanged, compared to its average volume of 323,638. The stock's 50 day simple moving average is $75.58 and its 200 day simple moving average is $79.38. The company has a market cap of $7.04 billion, a P/E ratio of 20.47 and a beta of 0.39. RLI Corp. has a twelve month low of $67.53 and a twelve month high of $91.15. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07.

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RLI (NYSE:RLI - Get Free Report) last released its quarterly 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%. On average, sell-side analysts expect that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The business also recently declared 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. This is a boost from RLI's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, February 28th. RLI's payout ratio is 16.00%.

Insider Buying and Selling

In other news, Director Robert P. Restrepo, Jr. sold 2,864 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total value of $214,484.96. Following the completion of the transaction, the director now directly owns 23,312 shares in the company, valued at approximately $1,745,835.68. The trade was a 10.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Craig W. Kliethermes purchased 5,000 shares of RLI stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average price of $71.35 per share, for a total transaction of $356,750.00. Following the transaction, the chief executive officer now directly owns 139,190 shares in the company, valued at $9,931,206.50. This represents a 3.73 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 11,200 shares of company stock valued at $805,774 over the last 90 days. 5.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JMP Securities reissued a "market perform" rating on shares of RLI in a research report on Thursday, January 23rd. Royal Bank of Canada decreased their target price on RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. StockNews.com raised RLI from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Keefe, Bruyette & Woods decreased their price objective on shares of RLI from $100.50 to $100.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Finally, Compass Point cut their target price 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, RLI has a consensus rating of "Hold" and an average target price 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.