RLI Corp. (NYSE:RLI) Shares Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC increased its position in shares of RLI Corp. (NYSE:RLI) by 3.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,899 shares of the insurance provider’s stock after purchasing an additional 1,902 shares during the quarter. Moran Wealth Management LLC owned approximately 0.07% of RLI worth $10,368,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in RLI. Golden State Wealth Management LLC purchased a new stake in shares of RLI during the fourth quarter worth $31,000. Versant Capital Management Inc boosted its position in 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 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. purchased a new stake in RLI during the 4th quarter valued at about $56,000. Finally, GAMMA Investing LLC raised its holdings in RLI by 31.8% in the 4th quarter. GAMMA Investing LLC now owns 1,035 shares of the insurance provider’s stock valued at $171,000 after acquiring an additional 250 shares during the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Stock Performance

NYSE RLI opened at $75.95 on Monday. The stock has a fifty day simple moving average of $76.30 and a 200-day simple moving average of $79.41. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The stock has a market cap of $6.97 billion, a PE ratio of 20.28 and a beta of 0.39. RLI Corp. has a twelve month low of $67.53 and a twelve month high of $91.14.

RLI (NYSE:RLI) last announced its 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 16.63% and a net margin of 19.53%. Equities analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. RLI’s payout ratio is presently 16.00%.

Insider Buying and Selling at RLI

In related news, Director Michael J. Stone sold 400 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $84.78, for a total value of $33,910.00. Following the sale, the director now owns 429,622 shares in the company, valued at approximately $36,421,205.05. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David B. Duclos bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average cost of $72.50 per share, for a total transaction of $145,000.00. Following the purchase, the director now owns 7,215 shares in the company, valued at $523,087.50. This represents a 38.35 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 11,200 shares of company stock valued at $805,774 over the last quarter. 5.09% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RLI. Jefferies Financial Group cut RLI from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $95.00 to $61.00 in a report on Monday, January 27th. StockNews.com raised RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Thursday, January 23rd. Compass Point lowered their price target on shares of RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, RLI has an average rating of “Hold” and an average target price 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.