Deutsche Bank AG Purchases 5,136 Shares of RLI Corp. (NYSE:RLI)

Deutsche Bank AG increased its holdings in RLI Corp. (NYSE:RLI - Free Report) by 138.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,858 shares of the insurance provider's stock after purchasing an additional 5,136 shares during the period. Deutsche Bank AG's holdings in RLI were worth $1,460,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of RLI during the fourth quarter valued at about $31,000. SBI Securities Co. Ltd. acquired a new stake in RLI in the fourth quarter worth about $56,000. EverSource Wealth Advisors LLC raised its position in shares of RLI by 47.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after acquiring an additional 159 shares during the last quarter. Quarry LP acquired a new stake in shares of RLI in the 4th quarter valued at approximately $108,000. Finally, Harvest Fund Management Co. Ltd bought a new position in RLI during the fourth quarter worth about $120,000. Institutional investors own 77.89% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on RLI. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. JMP Securities reaffirmed a "market perform" rating on shares of RLI in a research report on Thursday, April 24th. Compass Point downgraded shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their price objective on RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $78.60.

Insiders Place Their Bets

In related news, Director Jordan W. Graham sold 1,500 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $74.77, for a total transaction of $112,155.00. Following the transaction, the director now owns 12,854 shares in the company, valued at $961,093.58. The trade was a 10.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $74.89, for a total transaction of $214,484.96. Following the transaction, the director now directly owns 23,312 shares in the company, valued at $1,745,835.68. This trade represents a 10.94% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.16% of the company's stock.

RLI Price Performance

Shares of NYSE:RLI traded up $0.75 during midday trading on Thursday, hitting $76.25. The stock had a trading volume of 302,045 shares, compared to its average volume of 367,052. The company has a quick ratio of 0.38, a current ratio of 0.34 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $7.00 billion, a P/E ratio of 20.36 and a beta of 0.72. The company's 50-day moving average price is $75.98 and its 200-day moving average price is $78.44. RLI Corp. has a fifty-two week low of $68.50 and a fifty-two week high of $91.15.

RLI (NYSE:RLI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.04. The firm had revenue of $36.73 million for the quarter, compared to analysts' expectations of $442.20 million. RLI had a return on equity of 16.63% and a net margin of 19.53%. The business's revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 earnings per share. As a group, equities research analysts predict that RLI Corp. will post 3.08 EPS for the current fiscal year.

RLI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.84%. This is a positive change from RLI's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, May 30th. RLI's dividend payout ratio (DPR) is presently 21.05%.

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.