Alpha DNA Investment Management LLC Purchases 189 Shares of RLI Corp. (NYSE:RLI)

Alpha DNA Investment Management LLC increased its position in RLI Corp. (NYSE:RLI) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,622 shares of the insurance provider’s stock after purchasing an additional 189 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in RLI were worth $432,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in shares of RLI by 53.8% during the 4th 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 period. SkyView Investment Advisors LLC lifted its stake in RLI by 2.3% during the third quarter. SkyView Investment Advisors LLC now owns 4,545 shares of the insurance provider’s stock worth $704,000 after purchasing an additional 103 shares during the period. Brookstone Capital Management boosted its holdings in RLI by 7.5% during the fourth quarter. Brookstone Capital Management now owns 1,827 shares of the insurance provider’s stock valued at $301,000 after purchasing an additional 127 shares in the last quarter. Everhart Financial Group Inc. grew its stake in shares of RLI by 10.0% in the 4th quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider’s stock valued at $269,000 after purchasing an additional 148 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider’s stock valued at $82,000 after purchasing an additional 159 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

RLI Trading Up 0.5 %

RLI opened at $77.76 on Friday. RLI Corp. has a 1-year low of $68.50 and a 1-year high of $91.15. The firm has a 50-day moving average price of $76.33 and a two-hundred day moving average price of $79.43. The stock has a market capitalization of $7.14 billion, a PE ratio of 20.76 and a beta of 0.49. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI) last posted its quarterly earnings data 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%. As a group, equities analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, February 28th were issued a $0.15 dividend. This is a boost from RLI’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.60 annualized dividend and a yield of 0.77%. RLI’s dividend payout ratio (DPR) is currently 16.00%.

Insider Buying and Selling

In other news, Director Jordan W. Graham sold 1,500 shares of RLI stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total transaction of $112,155.00. Following the completion of the sale, the director now owns 12,854 shares in the company, valued at $961,093.58. The trade was a 10.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction that occurred on 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. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 11,200 shares of company stock worth $805,774 over the last three months. 2.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on RLI shares. StockNews.com raised RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods dropped their target price on shares of RLI from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Royal Bank of Canada dropped their price objective on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Finally, Compass Point cut their target price on shares of RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $79.80.

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.