Kayne Anderson Rudnick Investment Management LLC Has $397.11 Million Position in RLI Corp. (NYSE:RLI)

Kayne Anderson Rudnick Investment Management LLC lowered its position in RLI Corp. (NYSE:RLI - Free Report) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,409,181 shares of the insurance provider's stock after selling 28,390 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 2.63% of RLI worth $397,105,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Everhart Financial Group Inc. raised its position in shares of RLI by 10.0% during the fourth quarter. Everhart Financial Group Inc. now owns 1,633 shares of the insurance provider's stock valued at $269,000 after buying an additional 148 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in RLI by 47.0% during the fourth 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 in the last quarter. Atomi Financial Group Inc. increased its holdings in RLI by 9.5% in the 4th quarter. Atomi Financial Group Inc. now owns 1,875 shares of the insurance provider's stock valued at $309,000 after acquiring an additional 162 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in RLI in the 4th quarter worth $31,000. Finally, Alpha DNA Investment Management LLC increased its holdings in shares of RLI by 7.8% in the fourth quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider's stock worth $432,000 after purchasing an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 77.89% of the company's stock.

RLI Price Performance

Shares of RLI stock traded up $0.75 during trading hours on Thursday, reaching $76.25. The stock had a trading volume of 302,045 shares, compared to its average volume of 366,651. RLI Corp. has a twelve month low of $68.50 and a twelve month high of $91.15. The company has a current ratio of 0.34, a quick ratio of 0.38 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $7.00 billion, a PE ratio of 20.36 and a beta of 0.72. The stock's 50 day moving average is $76.00 and its 200 day moving average is $78.51.

RLI (NYSE:RLI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $36.73 million for the quarter, compared to analyst estimates of $442.20 million. RLI had a return on equity of 16.63% and a net margin of 19.53%. RLI's quarterly revenue was down 8.3% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. Equities analysts expect that RLI Corp. will post 3.08 earnings per share for the current fiscal year.

RLI Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 30th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, May 30th. This is a boost from RLI's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 0.84%. RLI's dividend payout ratio is currently 21.05%.

Insider Activity

In other RLI news, Director Jordan W. Graham sold 1,500 shares of RLI stock in a transaction that occurred 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 owns 12,854 shares of the company's stock, valued at $961,093.58. The trade was a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the stock in a transaction dated 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 of the company's stock, valued at $1,745,835.68. This represents a 10.94% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.16% of the company's stock.

Wall Street Analyst Weigh In

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

About RLI

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.