Allworth Financial LP Has $431,000 Holdings in RLI Corp. (NYSE:RLI)

Allworth Financial LP lifted its stake in RLI Corp. (NYSE:RLI) by 378.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,616 shares of the insurance provider’s stock after buying an additional 2,069 shares during the period. Allworth Financial LP’s holdings in RLI were worth $431,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RLI. Nepsis Inc. increased its holdings in RLI by 138.8% during the 4th quarter. Nepsis Inc. now owns 296,526 shares of the insurance provider’s stock valued at $48,876,000 after purchasing an additional 172,370 shares in the last quarter. NFJ Investment Group LLC acquired a new stake in RLI during the 3rd quarter valued at $9,931,000. Wellington Management Group LLP acquired a new stake in RLI during the 3rd quarter valued at $9,458,000. State Street Corp increased its holdings in RLI by 1.3% during the 3rd quarter. State Street Corp now owns 4,393,250 shares of the insurance provider’s stock valued at $680,866,000 after purchasing an additional 58,167 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in RLI by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 908,430 shares of the insurance provider’s stock valued at $140,817,000 after purchasing an additional 50,654 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

RLI Stock Up 0.3 %

NYSE RLI opened at $74.70 on Friday. RLI Corp. has a 52 week low of $67.53 and a 52 week high of $91.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. The stock has a market capitalization of $6.85 billion, a P/E ratio of 19.95 and a beta of 0.46. The stock has a fifty day moving average of $78.22 and a 200-day moving average of $79.22.

RLI (NYSE:RLI) last posted its quarterly 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 return on equity of 16.63% and a net margin of 19.53%. On average, equities research analysts forecast that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders 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. This represents a $0.60 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, February 28th. RLI’s dividend payout ratio (DPR) is currently 15.49%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their price target on RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. StockNews.com cut RLI from a “hold” rating to a “sell” rating in a report on Monday, January 27th. Royal Bank of Canada lowered their target price on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Finally, Compass Point lowered their target price on RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $82.80.

Insider Transactions at RLI

In other RLI news, Director David B. Duclos bought 2,000 shares of RLI stock in a transaction 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 completion of the acquisition, the director now owns 7,215 shares in the company, valued at approximately $523,087.50. The trade was a 38.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Craig W. Kliethermes bought 5,000 shares of RLI stock in a transaction on Friday, January 24th. The shares were acquired at an average price of $71.35 per share, for a total transaction of $356,750.00. Following the completion of the acquisition, the chief executive officer now owns 139,190 shares of the company’s stock, valued at approximately $9,931,206.50. This represents a 3.73 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 11,200 shares of company stock worth $805,774 in the last three months. Insiders own 5.09% 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.