Choreo LLC Cuts Stake in RLI Corp. (NYSE:RLI)

Choreo LLC decreased its stake in RLI Corp. (NYSE:RLI) by 17.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,311 shares of the insurance provider’s stock after selling 503 shares during the period. Choreo LLC’s holdings in RLI were worth $381,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RLI. Brown Brothers Harriman & Co. grew its stake in RLI by 0.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 7,879 shares of the insurance provider’s stock valued at $1,221,000 after purchasing an additional 66 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. grew its position in shares of RLI by 1.2% during the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 5,757 shares of the insurance provider’s stock worth $892,000 after buying an additional 68 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of RLI by 53.8% in the fourth quarter. Versant Capital Management Inc now owns 203 shares of the insurance provider’s stock worth $33,000 after buying an additional 71 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in RLI by 2.6% in the third quarter. OneDigital Investment Advisors LLC now owns 3,723 shares of the insurance provider’s stock valued at $577,000 after acquiring an additional 95 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in RLI by 0.9% during the 3rd quarter. Louisiana State Employees Retirement System now owns 11,500 shares of the insurance provider’s stock valued at $1,782,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RLI shares. Oppenheimer started coverage on shares of RLI in a report on Wednesday, October 16th. They issued a “market perform” rating for the company. Compass Point lowered 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. Jefferies Financial Group cut shares of RLI from a “buy” rating to an “underperform” rating and cut their target price for the stock from $95.00 to $61.00 in a report on Monday, January 27th. JMP Securities reaffirmed a “market perform” rating on shares of RLI in a report on Thursday, January 23rd. Finally, Royal Bank of Canada cut their price target on RLI from $88.00 to $80.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, RLI has an average rating of “Hold” and a consensus target price of $82.80.

RLI Stock Performance

Shares of NYSE:RLI opened at $74.61 on Thursday. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 19.92 and a beta of 0.46. The business’s fifty day moving average price is $79.41 and its two-hundred day moving average price is $79.23. RLI Corp. has a fifty-two week low of $67.53 and a fifty-two week high of $91.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38.

RLI (NYSE:RLI) last released its quarterly earnings results 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, analysts predict that RLI Corp. will post 3.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David B. Duclos acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired 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 directly owns 7,215 shares in the company, valued at approximately $523,087.50. The trade was a 38.35 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig W. Kliethermes bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average cost of $71.35 per share, for a total transaction of $356,750.00. Following the transaction, the chief executive officer now owns 139,190 shares in the company, valued at $9,931,206.50. The trade was a 3.73 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 11,200 shares of company stock worth $805,774. Company 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.