Sanctuary Advisors LLC Buys 8,883 Shares of RLI Corp. (NYSE:RLI)

Sanctuary Advisors LLC boosted its stake in RLI Corp. (NYSE:RLI) by 147.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,917 shares of the insurance provider’s stock after acquiring an additional 8,883 shares during the period. Sanctuary Advisors LLC’s holdings in RLI were worth $2,459,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RLI. Creative Planning boosted its holdings in RLI by 2.4% in the third quarter. Creative Planning now owns 18,586 shares of the insurance provider’s stock valued at $2,880,000 after acquiring an additional 444 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of RLI by 2.9% during the 3rd quarter. Raymond James & Associates now owns 73,514 shares of the insurance provider’s stock worth $11,393,000 after buying an additional 2,072 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of RLI during the 3rd quarter worth approximately $70,000. Louisiana State Employees Retirement System boosted its holdings in shares of RLI by 0.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 11,500 shares of the insurance provider’s stock worth $1,782,000 after buying an additional 100 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of RLI by 7.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,820 shares of the insurance provider’s stock worth $1,056,000 after buying an additional 495 shares in the last quarter. 77.89% of the stock is currently owned by institutional investors.

RLI Price Performance

Shares of NYSE:RLI opened at $74.59 on Friday. The firm has a market capitalization of $6.84 billion, a price-to-earnings ratio of 19.92 and a beta of 0.46. The stock’s 50 day moving average is $77.81 and its 200-day moving average is $79.20. RLI Corp. has a twelve month low of $67.53 and a twelve month high of $91.14. 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 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 net margin of 19.53% and a return on equity of 16.63%. Sell-side analysts forecast that RLI Corp. will post 3.08 EPS for the current fiscal 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 given a $0.15 dividend. This is a positive change from RLI’s previous quarterly dividend of $0.15. This represents a $0.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, February 28th. RLI’s dividend payout ratio is presently 15.49%.

Analyst Upgrades and Downgrades

RLI has been the topic of a number of research analyst reports. StockNews.com upgraded RLI from a “sell” rating to a “hold” rating in a report on Friday. Royal Bank of Canada cut their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Keefe, Bruyette & Woods cut 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. Compass Point lowered their target price on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, RLI currently has a consensus rating of “Hold” and an average price target of $82.80.

Insider Activity at RLI

In other news, Director Michael J. Stone sold 400 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $84.78, for a total transaction of $33,910.00. Following the completion of the sale, the director now directly owns 429,622 shares of the company’s stock, valued at $36,421,205.05. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael E. Angelina purchased 2,200 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was bought at an average cost of $72.62 per share, for a total transaction of $159,764.00. Following the completion of the acquisition, the director now directly owns 23,514 shares in the company, valued at $1,707,586.68. The trade was a 10.32 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 11,200 shares of company stock valued at $805,774. 5.09% of the stock is owned by insiders.

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.