Chatham Capital Group Inc. Acquires 14,103 Shares of RLI Corp. (NYSE:RLI)

Chatham Capital Group Inc. increased its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 112.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,666 shares of the insurance provider's stock after acquiring an additional 14,103 shares during the period. Chatham Capital Group Inc.'s holdings in RLI were worth $2,142,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Everhart Financial Group Inc. lifted its position in shares of 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 during the period. EverSource Wealth Advisors LLC boosted its stake in RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock valued at $82,000 after buying an additional 159 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in RLI in the 4th quarter valued at $31,000. Alpha DNA Investment Management LLC boosted its stake in RLI by 7.8% in the 4th quarter. Alpha DNA Investment Management LLC now owns 2,622 shares of the insurance provider's stock valued at $432,000 after buying an additional 189 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in RLI by 1.2% in the 4th quarter. Corient Private Wealth LLC now owns 17,265 shares of the insurance provider's stock valued at $2,846,000 after buying an additional 197 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company's stock.

Analysts Set New Price Targets

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

RLI Price Performance

RLI stock traded up $0.03 on Thursday, reaching $75.25. The company's stock had a trading volume of 500,730 shares, compared to its average volume of 369,740. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.38 and a current ratio of 0.34. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 20.09 and a beta of 0.72. The business's fifty day moving average price is $75.79 and its 200 day moving average price is $78.13. RLI Corp. has a twelve month low of $68.50 and a twelve month 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 for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The company had revenue of $36.73 million during the quarter, compared to the consensus estimate of $442.20 million. RLI had a return on equity of 16.63% and a net margin of 19.53%. The firm's quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $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 company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, May 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.85%. This is an increase from RLI's previous quarterly dividend of $0.15. RLI's payout ratio is presently 21.05%.

Insider Transactions at RLI

In related news, Director Jordan W. Graham sold 1,500 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $74.77, for a total value of $112,155.00. Following the completion of the sale, the director now owns 12,854 shares in the company, valued at approximately $961,093.58. This represents a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $74.89, for a total value of $214,484.96. Following the completion of the sale, 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. 2.16% of the stock is currently owned by corporate insiders.

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.