Craig W. Kliethermes Purchases 5,000 Shares of RLI Corp. (NYSE:RLI) Stock

RLI Corp. (NYSE:RLI) CEO Craig W. Kliethermes bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were acquired at an average price of $71.35 per share, with a total value of $356,750.00. Following the completion of the transaction, the chief executive officer now directly owns 139,190 shares of the company’s stock, valued at $9,931,206.50. This trade represents a 3.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

RLI Stock Up 0.3 %

RLI opened at $72.92 on Wednesday. RLI Corp. has a twelve month low of $67.04 and a twelve month high of $91.14. The company has a 50-day moving average price of $82.41 and a 200 day moving average price of $78.93. The company has a market cap of $6.68 billion, a PE ratio of 19.47 and a beta of 0.47.

RLI (NYSE:RLI) last released its quarterly earnings results 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%. As a group, sell-side analysts expect 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. Investors of record on Friday, November 29th were paid a dividend of $2.145 per share. The ex-dividend date was Friday, November 29th. This represents a yield of 0.7%. RLI’s dividend payout ratio is presently 15.47%.

Institutional Trading of RLI

Large investors have recently bought and sold shares of the business. UMB Bank n.a. grew its stake in RLI by 620.0% during the 3rd quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 155 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in RLI during the 4th quarter valued at about $31,000. V Square Quantitative Management LLC purchased a new stake in RLI during the 3rd quarter valued at about $32,000. Versant Capital Management Inc grew its stake in RLI by 53.8% during the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 71 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in RLI by 76.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Analysts Set New Price Targets

RLI has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their target price on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. JMP Securities reiterated a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Royal Bank of Canada decreased their price objective on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. 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 price objective for the company. Finally, Oppenheimer started coverage on shares of RLI in a research report on Wednesday, October 16th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, RLI presently has an average rating of “Hold” and a consensus price target of $82.80.

About RLI

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.