Insider Buying: RLI Corp. (NYSE:RLI) Director Buys 2,000 Shares of Stock

RLI Corp. (NYSE:RLI) Director David B. Duclos acquired 2,000 shares of RLI stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of $72.50 per share, with a total value of $145,000.00. Following the completion of the acquisition, the director now directly owns 7,215 shares in the company, valued at $523,087.50. This represents a 38.35 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

RLI Trading Up 1.9 %

Shares of RLI stock opened at $73.64 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 19.66 and a beta of 0.47. RLI Corp. has a 1 year low of $67.04 and a 1 year high of $91.14. The firm has a fifty day moving average price of $81.80 and a 200-day moving average price of $78.90.

RLI (NYSE:RLI) last released its quarterly earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. As a group, equities analysts predict that RLI Corp. will post 3.09 earnings per share for the current year.

RLI Cuts Dividend

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

Hedge Funds Weigh In On RLI

Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of 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 period. Geode Capital Management LLC increased its stake in RLI by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider’s stock worth $140,817,000 after buying an additional 50,654 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in RLI by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 813,719 shares of the insurance provider’s stock valued at $126,110,000 after acquiring an additional 4,330 shares during the period. Port Capital LLC lifted its position in shares of RLI by 0.4% in the third quarter. Port Capital LLC now owns 759,988 shares of the insurance provider’s stock valued at $117,783,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Maren Capital LLC boosted its stake in shares of RLI by 4.3% in the third quarter. Maren Capital LLC now owns 674,729 shares of the insurance provider’s stock worth $104,570,000 after acquiring an additional 27,940 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Wall Street Analyst Weigh In

RLI has been the subject of a number of research analyst reports. Oppenheimer began coverage on shares of RLI in a research note on Wednesday, October 16th. They issued a “market perform” rating for the company. Wolfe Research started coverage on shares of RLI in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $91.00 target price for the company. Keefe, Bruyette & Woods lowered their price target on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada cut their price objective on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Finally, JMP Securities reissued a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently 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.