Jeffrey D. Fick Buys 2,000 Shares of RLI Corp. (NYSE:RLI) Stock

RLI Corp. (NYSE:RLI) insider Jeffrey D. Fick bought 2,000 shares of the company’s stock in a transaction on Friday, January 24th. The stock was 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 directly owns 142,061 shares of the company’s stock, valued at approximately $10,246,859.93. The trade was a 1.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

RLI Trading Up 0.3 %

Shares of RLI opened at $72.92 on Wednesday. The business’s 50 day moving average is $82.41 and its 200 day moving average is $78.93. The company has a market capitalization of $6.68 billion, a PE ratio of 19.47 and a beta of 0.47. RLI Corp. has a 12-month low of $67.04 and a 12-month high of $91.14.

RLI (NYSE:RLI) last issued its 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 16.38%. Equities research analysts predict that RLI Corp. will post 3.13 earnings per share for the current year.

RLI Cuts Dividend

The firm also recently announced 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. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, November 29th. RLI’s dividend payout ratio (DPR) is presently 15.47%.

Analysts Set New Price Targets

RLI has been the topic of several research reports. Royal Bank of Canada dropped their target price on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Compass Point dropped 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. Oppenheimer started coverage on RLI in a research report on Wednesday, October 16th. They issued a “market perform” rating on the stock. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Finally, Wolfe Research started coverage on RLI in a research report on Wednesday, October 9th. They set an “outperform” rating and a $91.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $82.80.

Institutional Trading of RLI

Large investors have recently added to or reduced their stakes in the company. Motiv8 Investments LLC bought a new stake in RLI in the 3rd quarter worth approximately $217,000. Donaldson Capital Management LLC bought a new stake in RLI in the 3rd quarter worth approximately $3,469,000. American National Bank & Trust increased its stake in RLI by 62.5% in the 3rd quarter. American National Bank & Trust now owns 403 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 155 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in RLI by 18.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 161,880 shares of the insurance provider’s stock worth $22,775,000 after acquiring an additional 24,865 shares during the last quarter. Finally, Laurus Investment Counsel Inc. increased its position in shares of RLI by 53.2% during the 3rd quarter. Laurus Investment Counsel Inc. now owns 10,280 shares of the insurance provider’s stock valued at $1,593,000 after purchasing an additional 3,570 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

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.