Insider Buying: RLI Corp. (NYSE:RLI) Insider Acquires $144,260.00 in Stock

RLI Corp. (NYSE:RLI) insider Jeffrey D. Fick bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average cost of $72.13 per share, for a total transaction of $144,260.00. Following the completion of the transaction, the insider now owns 142,061 shares of the company’s stock, valued at $10,246,859.93. This represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

RLI Stock Down 0.9 %

Shares of RLI stock opened at $72.27 on Thursday. The stock has a market capitalization of $6.62 billion, a P/E ratio of 19.30 and a beta of 0.47. RLI Corp. has a 12-month low of $67.04 and a 12-month high of $91.14. The company has a 50-day simple moving average of $82.12 and a 200 day simple moving average of $78.95.

RLI (NYSE:RLI) last posted its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a return on equity of 16.38% and a net margin of 19.53%. On average, equities analysts anticipate that RLI Corp. will post 3.13 earnings per share for the current year.

RLI Cuts Dividend

The firm also recently disclosed a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were paid a $2.145 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, November 29th. RLI’s dividend payout ratio is currently 15.49%.

Institutional Trading of RLI

Large investors have recently made changes to their positions in the business. UMB Bank n.a. raised its holdings in shares of RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after buying an additional 155 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in RLI in the 4th quarter valued at about $31,000. V Square Quantitative Management LLC bought a new position in shares of RLI in the third quarter worth about $32,000. Versant Capital Management Inc lifted its position 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 worth $33,000 after purchasing an additional 71 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of RLI by 76.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RLI. Wolfe Research started coverage on RLI in a report on Wednesday, October 9th. They set an “outperform” rating and a $91.00 price objective on the stock. Royal Bank of Canada lowered their price target on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their target price on shares of RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Jefferies Financial Group cut shares of RLI from a “buy” rating to an “underperform” rating and cut their price target for the stock from $95.00 to $61.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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.