7,130 Shares in RLI Corp. (NYSE:RLI) Bought by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC purchased a new position in RLI Corp. (NYSE:RLI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,130 shares of the insurance provider's stock, valued at approximately $1,175,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Alpine Global Management LLC acquired a new stake in shares of RLI in the 4th quarter worth approximately $524,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in RLI by 15.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,118 shares of the insurance provider's stock valued at $29,854,000 after buying an additional 24,536 shares during the last quarter. Wolverine Trading LLC acquired a new stake in RLI during the 4th quarter valued at $290,000. Tidal Investments LLC purchased a new position in shares of RLI during the 4th quarter worth $210,000. Finally, State of Wyoming lifted its stake in shares of RLI by 21.8% during the 4th quarter. State of Wyoming now owns 3,230 shares of the insurance provider's stock worth $532,000 after purchasing an additional 579 shares during the period. Institutional investors and hedge funds own 77.89% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

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

RLI Trading Up 0.6%

Shares of RLI traded up $0.47 during trading hours on Thursday, hitting $75.97. The stock had a trading volume of 65,569 shares, compared to its average volume of 365,747. The company's fifty day simple moving average is $76.00 and its 200 day simple moving average is $78.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. RLI Corp. has a 12-month low of $68.50 and a 12-month high of $91.15. The firm has a market cap of $6.97 billion, a P/E ratio of 20.28 and a beta of 0.72.

RLI (NYSE:RLI - Get Free Report) last released 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. RLI had a return on equity of 16.63% and a net margin of 19.53%. The company had revenue of $36.73 million for the quarter, compared to analyst estimates of $442.20 million. During the same period last year, the company posted $0.95 earnings per share. The firm's revenue was down 8.3% compared to the same quarter last year. Equities research analysts forecast that RLI Corp. will post 3.08 EPS 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 $0.16 dividend. The ex-dividend date is Friday, May 30th. This is a positive change from RLI's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 0.84%. RLI's dividend payout ratio (DPR) is 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.