RLI Corp. (NYSE:RLI) Holdings Reduced by Nepsis Inc.

Nepsis Inc. lessened its stake in shares of RLI Corp. (NYSE:RLI - Free Report) by 8.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 271,551 shares of the insurance provider's stock after selling 24,975 shares during the period. RLI accounts for approximately 5.4% of Nepsis Inc.'s holdings, making the stock its 4th biggest position. Nepsis Inc. owned 0.30% of RLI worth $21,814,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RLI. Golden State Wealth Management LLC bought a new position in shares of RLI in the 4th quarter valued at about $31,000. SBI Securities Co. Ltd. purchased a new stake in RLI during the fourth quarter valued at approximately $56,000. Versant Capital Management Inc lifted its stake in shares of RLI by 100.0% in the 1st quarter. Versant Capital Management Inc now owns 406 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 203 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of RLI by 88.5% in the 1st quarter. Farther Finance Advisors LLC now owns 477 shares of the insurance provider's stock valued at $38,000 after purchasing an additional 224 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of RLI by 47.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 497 shares of the insurance provider's stock worth $82,000 after purchasing an additional 159 shares during the period. Hedge funds and other institutional investors own 77.89% of the company's stock.

Insider Buying and Selling at RLI

In other RLI news, Director Robert P. Restrepo, Jr. sold 2,864 shares of RLI stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $74.89, for a total value of $214,484.96. Following the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.16% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on RLI shares. Wall Street Zen upgraded RLI from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Compass Point cut RLI from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. JMP Securities reiterated a "market perform" rating on shares of RLI in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on RLI from $95.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, RLI currently has a consensus rating of "Hold" and an average target price of $78.60.

RLI Trading Down 0.3%

Shares of NYSE:RLI traded down $0.20 during trading on Wednesday, reaching $73.15. 400,279 shares of the company were exchanged, compared to its average volume of 372,655. The business's fifty day simple moving average is $75.30 and its 200-day simple moving average is $77.68. The firm has a market capitalization of $6.71 billion, a PE ratio of 19.53 and a beta of 0.70. RLI Corp. has a 12-month low of $68.50 and a 12-month high of $91.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.34 and a quick ratio of 0.38.

RLI (NYSE:RLI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.04. The business had revenue of $36.73 million for 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 business's revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 EPS. On average, research analysts anticipate that RLI Corp. will post 3.08 EPS for the current year.

RLI Increases Dividend

The business also recently announced 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. This represents a $0.64 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, May 30th. This is a boost from RLI's previous quarterly dividend of $0.15. 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.