GAMMA Investing LLC Has $12.87 Million Holdings in RLI Corp. (NYSE:RLI)

GAMMA Investing LLC raised its holdings in shares of RLI Corp. (NYSE:RLI - Free Report) by 15,376.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,178 shares of the insurance provider's stock after acquiring an additional 159,143 shares during the quarter. GAMMA Investing LLC owned approximately 0.17% of RLI worth $12,867,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Everhart Financial Group Inc. lifted its position in RLI by 10.0% during the 4th quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider's stock worth $269,000 after buying an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in RLI by 47.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock worth $82,000 after acquiring an additional 159 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in RLI during the fourth quarter valued at approximately $31,000. Alpha DNA Investment Management LLC grew its stake in RLI by 7.8% in the fourth quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider's stock valued at $432,000 after purchasing an additional 189 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of RLI by 1.2% during the 4th quarter. Corient Private Wealth LLC now owns 17,265 shares of the insurance provider's stock worth $2,846,000 after purchasing an additional 197 shares during the last quarter. 77.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RLI

In related news, Director Jordan W. Graham sold 1,500 shares of RLI 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 completion of the transaction, the director now owns 12,854 shares of the company's stock, valued at $961,093.58. This trade represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a 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 business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total transaction of $214,484.96. Following the completion of the transaction, the director now owns 23,312 shares in the company, valued at approximately $1,745,835.68. The trade was a 10.94% decrease in their position. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by company insiders.

RLI Price Performance

RLI traded down $2.17 on Monday, reaching $73.76. The stock had a trading volume of 190,549 shares, compared to its average volume of 370,347. The firm has a 50-day moving average of $75.59 and a 200-day moving average of $77.82. RLI Corp. has a fifty-two week low of $68.50 and a fifty-two week high of $91.15. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 19.70 and a beta of 0.70. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07.

RLI (NYSE:RLI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.88 by $0.04. RLI had a net margin of 19.53% and a return on equity of 16.63%. The business had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. During the same period last year, the company earned $0.95 EPS. The firm's revenue was down 8.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, May 30th will be paid a $0.16 dividend. This is a boost from RLI's previous quarterly dividend of $0.15. The ex-dividend date is Friday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.87%. RLI's payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

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

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.