DAVENPORT & Co LLC Trims Position in RLI Corp. (NYSE:RLI)

DAVENPORT & Co LLC decreased its holdings in RLI Corp. (NYSE:RLI) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,777 shares of the insurance provider’s stock after selling 150 shares during the quarter. DAVENPORT & Co LLC’s holdings in RLI were worth $2,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in RLI by 620.0% in the third quarter. UMB Bank n.a. now owns 180 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 155 shares in the last quarter. Versant Capital Management Inc raised its position in shares of RLI by 53.8% in the 4th quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 71 shares during the last quarter. V Square Quantitative Management LLC bought a new position in RLI in the 3rd quarter worth about $32,000. Nomura Asset Management Co. Ltd. boosted its stake in RLI by 76.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in RLI during the 3rd quarter valued at about $70,000. Institutional investors own 77.89% of the company’s stock.

Insider Transactions at RLI

In other news, Director David B. Duclos purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was acquired at an average cost of $72.50 per share, with a total value of $145,000.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Stone sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were 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 owns 429,622 shares of the company’s stock, valued at approximately $36,421,205.05. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 11,200 shares of company stock valued at $805,774. 5.09% of the stock is currently owned by corporate insiders.

RLI Price Performance

RLI stock opened at $77.96 on Friday. RLI Corp. has a 12-month low of $67.53 and a 12-month high of $91.14. 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 firm has a 50-day moving average price of $80.32 and a 200-day moving average price of $79.04. The firm has a market capitalization of $7.14 billion, a PE ratio of 20.82 and a beta of 0.46.

RLI (NYSE:RLI) last announced its quarterly earnings data on Wednesday, January 22nd. The insurance provider reported $0.41 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 16.63%. As a group, equities research analysts forecast that RLI Corp. will post 3.09 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RLI shares. StockNews.com downgraded shares of RLI from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Royal Bank of Canada lowered their price objective 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. JMP Securities reissued a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Jefferies Financial Group downgraded RLI from a “buy” rating to an “underperform” rating and lowered their price target for the company from $95.00 to $61.00 in a report on Monday, January 27th. Finally, Oppenheimer assumed coverage on RLI in a research report on Wednesday, October 16th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $82.80.

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.