RLI Corp. (NYSE:RLI) Director Robert P. Restrepo, Jr. Sells 2,864 Shares

RLI Corp. (NYSE:RLI) Director Robert P. Restrepo, Jr. sold 2,864 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $74.89, for a total transaction of $214,484.96. Following the completion of the transaction, the director now owns 23,312 shares in the company, valued at $1,745,835.68. The trade was a 10.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

RLI Stock Up 1.8 %

Shares of RLI stock opened at $75.74 on Friday. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 20.22 and a beta of 0.39. The company’s 50 day moving average is $75.58 and its 200 day moving average is $79.33. 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.

RLI (NYSE:RLI) last announced its 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 net margin of 19.53% and a return on equity of 16.63%. Research analysts anticipate that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.15 per share. This is a boost from RLI’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Friday, February 28th. RLI’s dividend payout ratio is currently 16.00%.

Institutional Trading of RLI

A number of hedge funds and other institutional investors have recently modified their holdings of RLI. Golden State Wealth Management LLC purchased a new stake in shares of RLI in the fourth quarter worth $31,000. Versant Capital Management Inc boosted 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 acquiring an additional 71 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted 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 acquiring an additional 100 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of RLI during the fourth quarter worth $56,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock worth $82,000 after acquiring an additional 159 shares during the last quarter. 77.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of RLI from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods reduced their price target 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. 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. Finally, Compass Point dropped their price objective on shares of RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.