Two Sigma Investments LP Has $679,000 Position in RLI Corp. (NYSE:RLI)

Two Sigma Investments LP cut its position in RLI Corp. (NYSE:RLI - Free Report) by 78.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,118 shares of the insurance provider's stock after selling 14,682 shares during the quarter. Two Sigma Investments LP's holdings in RLI were worth $679,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Everhart Financial Group Inc. increased 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 purchasing an additional 148 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in RLI by 47.0% during 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 in the last quarter. Golden State Wealth Management LLC acquired a new position in RLI during the 4th quarter worth approximately $31,000. Alpha DNA Investment Management LLC increased its position in RLI by 7.8% during the 4th 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 in the last quarter. Finally, Corient Private Wealth LLC increased its position in 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 in the last quarter. 77.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RLI shares. Keefe, Bruyette & Woods reduced their target price on shares of RLI from $95.00 to $85.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Compass Point lowered shares of RLI from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Wall Street Zen raised shares of RLI from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, JMP Securities reissued a "market perform" rating on shares of RLI in a report on Thursday, April 24th. 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $78.60.

RLI Stock Performance

RLI opened at $75.93 on Friday. 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 company's fifty day moving average price is $75.59 and its two-hundred day moving average price is $77.89. RLI Corp. has a 1-year low of $68.50 and a 1-year high of $91.15. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 20.28 and a beta of 0.70.

RLI (NYSE:RLI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.92 earnings per share 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 firm had revenue of $36.73 million for the quarter, compared to the consensus estimate of $442.20 million. During the same quarter in the prior year, the company posted $0.95 earnings per share. The business's revenue was down 8.3% on a year-over-year basis. On average, analysts expect 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. Investors of record on Friday, May 30th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, May 30th. This is an increase from RLI's previous quarterly dividend of $0.15. RLI's dividend payout ratio (DPR) is 21.05%.

Insider Buying and Selling

In related news, Director Jordan W. Graham sold 1,500 shares of the firm's 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 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 document filed with the SEC, which is available through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 2,864 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 23,312 shares in the company, valued at $1,745,835.68. This represents a 10.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.16% of the stock is currently owned by corporate insiders.

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.

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