RLI Corp. (NYSE:RLI) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in RLI Corp. (NYSE:RLI) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 471,752 shares of the insurance provider’s stock after purchasing an additional 9,131 shares during the period. Charles Schwab Investment Management Inc. owned about 0.51% of RLI worth $77,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in RLI. Atria Investments Inc lifted its stake in shares of RLI by 8.5% in the 3rd quarter. Atria Investments Inc now owns 9,380 shares of the insurance provider’s stock valued at $1,454,000 after purchasing an additional 735 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of RLI by 46.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,072 shares of the insurance provider’s stock valued at $631,000 after purchasing an additional 1,286 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of RLI by 22.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 113,651 shares of the insurance provider’s stock valued at $17,614,000 after purchasing an additional 20,905 shares during the period. Aigen Investment Management LP lifted its stake in shares of RLI by 118.3% in the 3rd quarter. Aigen Investment Management LP now owns 5,679 shares of the insurance provider’s stock valued at $880,000 after purchasing an additional 3,078 shares during the period. Finally, Empower Advisory Group LLC lifted its stake in shares of RLI by 1.8% in the 3rd quarter. Empower Advisory Group LLC now owns 120,700 shares of the insurance provider’s stock valued at $18,706,000 after purchasing an additional 2,157 shares during the period. 77.89% of the stock is currently owned by institutional investors and hedge funds.

RLI Price Performance

Shares of NYSE RLI opened at $75.39 on Tuesday. The firm has a 50-day simple moving average of $76.16 and a 200-day simple moving average of $79.41. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 20.13 and a beta of 0.39. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. RLI Corp. has a 52 week low of $67.53 and a 52 week high of $91.14.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, January 22nd. The insurance provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.64). RLI had a net margin of 19.53% and a return on equity of 16.63%. On average, equities analysts predict that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, February 28th will be issued a $0.15 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.80%. This is a positive change from RLI’s previous quarterly dividend of $0.15. RLI’s dividend payout ratio is currently 16.00%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RLI. Royal Bank of Canada reduced their price objective on shares of RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group cut shares of RLI from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $95.00 to $61.00 in a research report on Monday, January 27th. Compass Point reduced their price objective on shares of RLI from $185.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, January 27th. JMP Securities restated a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of RLI from $100.50 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, RLI has an average rating of “Hold” and a consensus target price of $82.80.

Insider Activity at RLI

In other news, Director Michael E. Angelina acquired 2,200 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average price of $72.62 per share, with a total value of $159,764.00. Following the completion of the acquisition, the director now owns 23,514 shares of the company’s stock, valued at $1,707,586.68. This trade represents a 10.32 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael J. Stone sold 400 shares of the company’s stock in a transaction dated 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 directly owns 429,622 shares of the company’s stock, valued at $36,421,205.05. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders bought 11,200 shares of company stock valued at $805,774. 5.09% of the stock is owned by company insiders.

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.