SBI Securities Co. Ltd. Buys Shares of 338 RLI Corp. (NYSE:RLI)

SBI Securities Co. Ltd. purchased a new position in shares of RLI Corp. (NYSE:RLI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 338 shares of the insurance provider’s stock, valued at approximately $56,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its stake in RLI by 104.9% in the fourth quarter. Jones Financial Companies Lllp now owns 1,162 shares of the insurance provider’s stock valued at $191,000 after buying an additional 595 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of RLI in the fourth quarter valued at $2,146,000. New York Life Investment Management LLC purchased a new stake in shares of RLI in the fourth quarter valued at about $728,000. Amalgamated Bank boosted its stake in shares of RLI by 3.5% during the fourth quarter. Amalgamated Bank now owns 20,580 shares of the insurance provider’s stock valued at $3,392,000 after acquiring an additional 695 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of RLI in the fourth quarter valued at approximately $404,000. 77.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on RLI shares. Royal Bank of Canada lowered their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Compass Point lowered their price target on shares of RLI from $185.00 to $82.00 and set a “buy” rating for the company in a report on Monday, January 27th. StockNews.com upgraded shares of RLI from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Jefferies Financial Group lowered RLI from a “buy” rating to an “underperform” rating and dropped their price target for the company from $95.00 to $61.00 in a research report on Monday, January 27th. Finally, JMP Securities restated a “market perform” rating on shares of RLI in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $82.80.

Insider Transactions at RLI

In related news, Director David B. Duclos acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired at an average cost of $72.50 per share, with a total value of $145,000.00. Following the transaction, the director now owns 7,215 shares of the company’s stock, valued at $523,087.50. The trade was a 38.35 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Craig W. Kliethermes bought 5,000 shares of the business’s stock in a transaction on Friday, January 24th. The stock was purchased at an average price of $71.35 per share, for a total transaction of $356,750.00. Following the purchase, the chief executive officer now directly owns 139,190 shares in the company, 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 Stock Down 0.6 %

RLI stock opened at $75.39 on Tuesday. The company has a market cap of $6.92 billion, a PE ratio of 20.13 and a beta of 0.39. RLI Corp. has a twelve month low of $67.53 and a twelve month high of $91.14. The business’s 50-day simple moving average is $76.16 and its 200 day simple moving average is $79.41. 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 (NYSE:RLI) last posted 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%. On average, research analysts anticipate that RLI Corp. will post 3.08 earnings per share for the current year.

RLI Increases Dividend

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

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.