RLI Corp. (NYSE:RLI) Shares Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp grew its holdings in shares of RLI Corp. (NYSE:RLI) by 104.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,162 shares of the insurance provider’s stock after acquiring an additional 595 shares during the period. Jones Financial Companies Lllp’s holdings in RLI were worth $191,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RLI. Nepsis Inc. grew its stake in RLI by 138.8% in the fourth quarter. Nepsis Inc. now owns 296,526 shares of the insurance provider’s stock worth $48,876,000 after purchasing an additional 172,370 shares in the last quarter. NFJ Investment Group LLC acquired a new position in RLI in the third quarter worth about $9,931,000. Wellington Management Group LLP acquired a new position in RLI in the third quarter worth about $9,458,000. State Street Corp grew its stake in RLI by 1.3% in the third quarter. State Street Corp now owns 4,393,250 shares of the insurance provider’s stock worth $680,866,000 after purchasing an additional 58,167 shares in the last quarter. Finally, ST. Nicholas Private Asset Management Inc. acquired a new position in RLI in the fourth quarter worth about $8,739,000. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group cut RLI from a “buy” rating to an “underperform” rating and cut their price target for the company from $95.00 to $61.00 in a report on Monday, January 27th. Compass Point cut their price target on RLI from $185.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, January 27th. StockNews.com raised RLI from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Keefe, Bruyette & Woods cut their price target on RLI from $100.50 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $82.80.

RLI Trading Up 0.6 %

RLI stock opened at $74.45 on Friday. 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 firm has a market cap of $6.83 billion, a price-to-earnings ratio of 19.88 and a beta of 0.39. RLI Corp. has a 1 year low of $67.53 and a 1 year high of $91.14. The firm’s 50 day moving average price is $75.69 and its two-hundred day moving average price is $79.33.

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%. On average, research analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, February 28th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.81%. This is a boost from RLI’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, February 28th. RLI’s payout ratio is presently 16.00%.

Insider Activity

In other news, Director Michael E. Angelina bought 2,200 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 23,514 shares in the company, valued at approximately $1,707,586.68. The trade was a 10.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jordan W. Graham sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total transaction of $112,155.00. Following the transaction, the director now directly owns 12,854 shares of the company’s stock, valued at approximately $961,093.58. This represents a 10.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 11,200 shares of company stock worth $805,774 in the last ninety days. Corporate insiders own 5.09% of the company’s stock.

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.