RLI Corp. (NYSE:RLI) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its stake in RLI Corp. (NYSE:RLI - Free Report) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 310,118 shares of the insurance provider's stock after selling 14,448 shares during the quarter. Wells Fargo & Company MN owned 0.34% of RLI worth $51,117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in RLI by 9.5% in the 3rd quarter. FMR LLC now owns 6,952 shares of the insurance provider's stock valued at $1,077,000 after purchasing an additional 605 shares in the last quarter. Captrust Financial Advisors increased its stake in RLI by 12.6% in the third quarter. Captrust Financial Advisors now owns 2,644 shares of the insurance provider's stock valued at $410,000 after purchasing an additional 295 shares during the last quarter. Stifel Financial Corp increased its stake in RLI by 13.2% in the third quarter. Stifel Financial Corp now owns 55,932 shares of the insurance provider's stock valued at $8,669,000 after purchasing an additional 6,504 shares during the last quarter. Wellington Management Group LLP acquired a new stake in RLI in the 3rd quarter worth about $9,458,000. Finally, National Bank of Canada FI boosted its stake in RLI by 5.8% in the 3rd quarter. National Bank of Canada FI now owns 17,051 shares of the insurance provider's stock worth $2,643,000 after buying an additional 936 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

Insider Activity at RLI

In related news, insider Jeffrey D. Fick bought 2,000 shares of the company's stock in a transaction dated Friday, January 24th. The stock was bought at an average price of $72.13 per share, with a total value of $144,260.00. Following the transaction, the insider now owns 142,061 shares of the company's stock, valued at approximately $10,246,859.93. This trade represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of RLI stock in a transaction dated Thursday, March 13th. The stock was 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 owns 23,312 shares of the company's stock, valued at $1,745,835.68. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 11,200 shares of company stock valued at $805,774. Insiders own 5.09% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RLI shares. Keefe, Bruyette & Woods cut their price objective on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group downgraded RLI from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $95.00 to $61.00 in a report on Monday, January 27th. JMP Securities restated a "market perform" rating on shares of RLI in a report on Thursday, January 23rd. StockNews.com upgraded RLI from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Finally, Royal Bank of Canada reduced their price target on shares of RLI from $88.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, RLI has a consensus rating of "Hold" and a consensus target price of $79.80.

RLI Stock Up 1.2 %

NYSE:RLI traded up $0.92 during trading hours on Tuesday, hitting $78.68. The stock had a trading volume of 43,691 shares, compared to its average volume of 357,248. The company has a market cap of $7.22 billion, a PE ratio of 20.98 and a beta of 0.49. The business has a 50 day simple moving average of $76.24 and a two-hundred day simple moving average of $79.47. RLI Corp. has a 1-year low of $67.53 and a 1-year high of $91.15. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share 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%. Analysts predict that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were paid a $0.15 dividend. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.76%. RLI's payout ratio is 16.00%.

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.